EQB (TSE:EQB) Reaches New 52-Week High – Should You Buy?

EQB Inc. (TSE:EQB) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$105.69 and last traded at C$105.50, with a volume of 16549 shares changing hands. The stock had previously closed at C$104.46.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EQB. Scotiabank reduced their target price on shares of EQB from C$113.00 to C$109.00 in a research note on Monday, August 19th. CIBC lifted their price objective on EQB from C$105.00 to C$113.00 in a report on Friday, September 6th. BMO Capital Markets increased their target price on EQB from C$104.00 to C$106.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Raymond James decreased their price target on EQB from C$110.00 to C$106.00 in a research note on Wednesday, August 21st. Finally, Cormark cut their price objective on 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$106.56.

EQB Trading Up 2.3 %

The stock’s 50 day moving average is C$98.78 and its 200 day moving average is C$92.29. The stock has a market capitalization of C$4.11 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 0.34 and a beta of 1.58.

EQB (TSE:EQB) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of C$325.00 million. On average, sell-side analysts anticipate that EQB Inc. will post 12.5963415 EPS for the current year.

EQB Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 30th were paid a dividend of $0.47 per share. This is a boost from EQB’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Friday, September 13th. EQB’s dividend payout ratio (DPR) is currently 20.19%.

About EQB

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.