Scotiabank Issues Positive Forecast for EQB (TSE:EQB) Stock Price

EQB (TSE:EQB) had its price objective lifted by Scotiabank from C$105.00 to C$122.00 in a research report report published on Friday,BayStreet.CA reports.

Several other research analysts have also weighed in on the stock. Raymond James Financial dropped their price objective on shares of EQB from C$93.00 to C$91.00 in a research note on Friday, December 5th. Veritas upgraded shares of EQB to a “hold” rating in a report on Monday, December 1st. National Bank Financial increased their price objective on EQB from C$111.00 to C$120.00 and gave the stock a “sector perform” rating in a report on Thursday. TD Securities lowered their target price on EQB from C$138.00 to C$132.00 in a research note on Thursday. Finally, Desjardins upped their target price on EQB from C$110.00 to C$125.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$117.44.

EQB Price Performance

EQB stock traded down C$1.05 during mid-day trading on Friday, hitting C$115.32. The company’s stock had a trading volume of 186,502 shares, compared to its average volume of 162,109. EQB has a 52-week low of C$83.93 and a 52-week high of C$126.51. The company has a market cap of C$4.30 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 0.34 and a beta of 0.74. The firm’s 50 day moving average is C$109.19 and its 200 day moving average is C$98.27.

EQB (TSE:EQB) last issued its earnings results on Wednesday, December 3rd. The company reported C$6.56 earnings per share for the quarter. EQB had a return on equity of 8.52% and a net margin of 13.04%. As a group, analysts forecast that EQB will post 12.5988235 EPS for the current year.

EQB Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.0%. This is a positive change from EQB’s previous quarterly dividend of $0.55. EQB’s payout ratio is currently 31.28%.

Key EQB News

Here are the key news stories impacting EQB this week:

• Positive Sentiment: Scotiabank raised its price target on EQB from C$105.00 to C$122.00, signaling a renewed bullish view that implies upside from recent levels. Scotiabank raise
• Positive Sentiment: National Bank Financial lifted its target to C$120.00 and moved to a “sector perform” stance, reflecting a modestly more constructive view on near-term performance. National Bank target raise
• Neutral Sentiment: Coverage piece: “Is EQB Still Attractive After Mixed Recent Share Price Performance” examines valuation and fundamentals and weighs EQB’s earnings/ROE versus recent stock moves — useful context but not a direct catalyst. Is EQB still attractive
• Neutral Sentiment: Coverage piece: “Why The EQB Story Is Shifting With New ROE Expectations And Price Targets” summarizes analyst revisions to ROE forecasts and how those changes are driving updated targets — important for medium-term outlook but mixed in direction. ROE expectations shifting
• Negative Sentiment: TD Securities cut its price target on EQB from C$138.00 to C$132.00, a downward revision that reduces upside expectations despite the new target remaining above current trading levels. TD Securities cut

About EQB

EQB Inc formerly Equitable Group Inc trades on the Toronto Stock Exchange TSX: EQB and EQB.PR.C and serves over 360000 Canadians through its wholly owned subsidiary Equitable Bank Canadas Challenger Bank. Equitable Bank has grown to become the countrys eighth largest independent Schedule I bank with a clear mandate to drive real change in Canadian banking to enrich peoples lives. At Equitable Bank we are as invested in our employees as we are in our business. Thats why we are consistently recognized as one of Canadas Top Employers a rating that comes from our 1300+ employees.