EQB (TSE:EQB) Given New C$135.00 Price Target at Scotiabank

EQB (TSE:EQB) had its price target reduced by Scotiabank from C$141.00 to C$135.00 in a research note issued on Monday,BayStreet.CA reports. Scotiabank’s target price suggests a potential upside of 6.64% from the company’s current price.

A number of other brokerages have also weighed in on EQB. Desjardins decreased their price target on shares of EQB from C$155.00 to C$150.00 and set a “buy” rating on the stock in a research note on Friday. Jefferies Financial Group increased their target price on EQB from C$122.00 to C$129.00 and gave the company a “hold” rating in a report on Thursday, August 13th. National Bank Financial raised their target price on EQB from C$120.00 to C$143.00 and gave the company a “sector perform” rating in a research report on Thursday, August 13th. Canadian Imperial Bank of Commerce lowered their price target on EQB from C$165.00 to C$154.00 and set an “outperformer” rating on the stock in a research note on Friday. Finally, Royal Bank Of Canada boosted their price target on EQB from C$131.00 to C$146.00 and gave the stock an “outperform” rating in a research report on Friday. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$139.30.

EQB Stock Up 0.8%

Shares of EQB traded up C$0.99 during mid-day trading on Monday, reaching C$126.59. The company had a trading volume of 99,586 shares, compared to its average volume of 120,780. The stock has a market capitalization of C$5.39 billion, a P/E ratio of -452.11, a PEG ratio of 0.34 and a beta of 0.92. EQB has a 52-week low of C$83.93 and a 52-week high of C$150.32. The stock has a 50 day moving average of C$136.98 and a two-hundred day moving average of C$123.66.

EQB (TSE:EQB) last announced its quarterly earnings results on Wednesday, August 26th. The company reported C$2.12 earnings per share for the quarter. The firm had revenue of C$393.04 million during the quarter. EQB had a negative return on equity of 0.07% and a negative net margin of 0.08%. On average, sell-side analysts expect that EQB will post 12.5988235 earnings per share for the current year.

Insider Transactions at EQB

In other EQB news, Director Darren Lorimer sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, July 16th. The shares were sold at an average price of C$149.24, for a total value of C$111,930.00. Following the transaction, the director directly owned 6,988 shares of the company’s stock, valued at C$1,042,889.12. This trade represents a 9.69% decrease in their position. Also, insider Loblaw Companies Limited bought 16,000 shares of the stock in a transaction dated Thursday, August 27th. The shares were bought at an average price of C$124.91 per share, for a total transaction of C$1,998,560.00. Following the completion of the acquisition, the insider owned 1,474,100 shares in the company, valued at approximately C$184,129,831. The trade was a 1.10% increase in their ownership of the stock. In the last quarter, insiders acquired 78,100 shares of company stock valued at $10,641,748 and sold 7,484 shares valued at $1,069,719. 29.02% of the stock is currently owned by corporate insiders.

EQB Company Profile

EQB Inc (TSX: EQB) is a leading Canadian financial services company with approximately $151 billion in combined assets under management and administration. It is the parent company of Equitable Bank, the country’s seventh largest Schedule I bank by assets, which operates EQ Bank, Canada’s Challenger Bank. Our purpose is to remake banking so every Canadian gets ahead, every day. Since 1970, we have built thoughtful financial solutions that serve more than 4 million customers, turning everyday moments into meaningful progress.