EQB (TSE:EQB) Price Target Raised to C$155.00

EQB (TSE:EQB) had its price target upped by Desjardins from C$132.00 to C$155.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports. The firm currently has a buy rating on the stock.

Several other research firms have also issued reports on EQB. National Bank Financial set a C$120.00 price target on shares of EQB and gave the stock a “sector perform” rating in a research report on Friday, May 15th. Raymond James Financial dropped their price target on EQB from C$127.00 to C$123.00 and set a “market perform” rating on the stock in a research report on Friday, May 29th. Scotiabank lifted their target price on EQB from C$122.00 to C$125.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Jefferies Financial Group upped their target price on EQB from C$110.00 to C$112.00 in a report on Wednesday, May 20th. Finally, TD dropped their price objective on shares of EQB from C$132.00 to C$123.00 and set a “buy” rating on the stock in a research note on Thursday, May 28th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$124.80.

EQB Stock Performance

Shares of TSE:EQB opened at C$140.01 on Wednesday. EQB has a 1-year low of C$83.93 and a 1-year high of C$150.32. The company’s fifty day moving average is C$132.01 and its two-hundred day moving average is C$120.69. The stock has a market capitalization of C$4.96 billion, a price-to-earnings ratio of 27.51, a price-to-earnings-growth ratio of 0.34 and a beta of 0.92.

EQB (TSE:EQB) last announced its quarterly earnings results on Wednesday, May 27th. The company reported C$2.03 EPS for the quarter. The company had revenue of C$302.36 million for the quarter. EQB had a net margin of 6.61% and a return on equity of 6.16%. Sell-side analysts expect that EQB will post 12.5988235 EPS for the current fiscal year.

EQB Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were issued a dividend of $0.61 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.44 annualized dividend and a yield of 1.7%. This is an increase from EQB’s previous quarterly dividend of $0.59. EQB’s payout ratio is 44.01%.

Insiders Place Their Bets

In other EQB news, insider Loblaw Companies Limited bought 8,000 shares of the business’s stock in a transaction on Monday, July 20th. The shares were bought at an average cost of C$141.57 per share, for a total transaction of C$1,132,560.00. Following the transaction, the insider owned 1,250,100 shares in the company, valued at approximately C$176,976,657. This trade represents a 0.64% increase in their position. Also, Director Darren Lorimer sold 1,850 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$149.00, for a total transaction of C$275,650.00. Following the completion of the transaction, the director directly owned 5,138 shares in the company, valued at approximately C$765,562. The trade was a 26.47% decrease in their ownership of the stock. Over the last quarter, insiders acquired 38,100 shares of company stock valued at $5,407,348 and sold 7,484 shares valued at $1,069,719. 29.02% of the stock is owned by corporate insiders.

EQB Company Profile

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.