EQB (TSE:EQB) Reaches New 52-Week High After Analyst Upgrade

EQB Inc. (TSE:EQB)’s stock price reached a new 52-week high on Monday after Scotiabank raised their price target on the stock from C$109.00 to C$135.00. The company traded as high as C$111.59 and last traded at C$111.50, with a volume of 10371 shares. The stock had previously closed at C$110.35.

A number of other brokerages have also recently commented on EQB. Cormark reduced their target price on shares of EQB from C$121.00 to C$111.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Raymond James reduced their target price on EQB from C$110.00 to C$106.00 in a research report on Wednesday, August 21st. CIBC upped their price objective on shares of EQB from C$105.00 to C$113.00 in a report on Friday, September 6th. BMO Capital Markets lifted their target price on EQB from C$106.00 to C$119.00 in a research report on Monday, November 18th. Finally, TD Securities reduced their price objective on EQB from C$112.00 to C$109.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$112.13.

EQB Trading Up 0.2 %

The firm has a market capitalization of C$4.24 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 0.34 and a beta of 1.59. The stock’s 50 day moving average price is C$105.90 and its two-hundred day moving average price is C$97.06.

EQB (TSE:EQB) last posted its quarterly earnings results on Wednesday, August 28th. The company reported C$2.96 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.93 by C$0.03. EQB had a net margin of 39.67% and a return on equity of 14.70%. The business had revenue of C$327.24 million for the quarter, compared to analysts’ expectations of C$325.00 million. On average, sell-side analysts forecast that EQB Inc. will post 12.5988235 earnings per share for the current fiscal year.

EQB Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 30th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.70%. This is a boost from EQB’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, September 13th. EQB’s dividend payout ratio is presently 19.75%.

EQB Company Profile

EQB Inc, through its subsidiary, Equitable Bank, provides personal and commercial banking services to retail and commercial customers in Canada. The company accepts term deposits and guaranteed investment certificates, high interest savings accounts, institutional deposit notes and covered bonds, as well as specialized financing solutions.