Desjardins Lowers EQB (TSE:EQB) Price Target to C$150.00

EQB (TSE:EQB) had its price target reduced by analysts at Desjardins from C$155.00 to C$150.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ price target suggests a potential upside of 20.27% from the company’s previous close.

Other analysts have also recently issued research reports about the company. National Bank Financial increased their price objective on EQB from C$120.00 to C$143.00 and gave the stock a “sector perform” rating in a report on Thursday, August 13th. Canadian Imperial Bank of Commerce reduced their target price on EQB from C$165.00 to C$154.00 and set an “outperformer” rating for the company in a report on Friday. Jefferies Financial Group upped their price target on EQB from C$122.00 to C$129.00 and gave the company a “hold” rating in a research report on Thursday, August 13th. Raymond James Financial increased their price target on shares of EQB from C$123.00 to C$136.00 and gave the stock a “sector perform” rating in a report on Thursday, August 13th. Finally, TD raised their price objective on shares of EQB from C$123.00 to C$154.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, EQB presently has an average rating of “Hold” and an average target price of C$138.30.

EQB Stock Performance

EQB stock traded down C$4.07 during midday trading on Friday, reaching C$124.72. 158,542 shares of the company’s stock traded hands, compared to its average volume of 120,470. The company has a 50-day moving average price of C$136.99 and a two-hundred day moving average price of C$123.60. EQB has a 52 week low of C$83.93 and a 52 week high of C$150.32. The firm has a market capitalization of C$4.42 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 0.34 and a beta of 0.92.

EQB (TSE:EQB) last posted its earnings results on Wednesday, August 26th. The company reported C$2.12 earnings per share (EPS) for the quarter. EQB had a return on equity of 6.16% and a net margin of 6.61%.The firm had revenue of C$393.04 million for the quarter. As a group, analysts predict that EQB will post 12.5988235 EPS for the current fiscal year.

Insiders Place Their Bets

In other EQB news, Director Daniel Broten sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 3rd. The stock was sold at an average price of C$141.74, for a total value of C$212,610.00. Following the sale, the director owned 5,033 shares of the company’s stock, valued at C$713,377.42. This trade represents a 22.96% decrease in their position. Also, insider Loblaw Companies Limited purchased 8,000 shares of the company’s stock in a transaction dated Monday, July 20th. The shares were acquired at an average price of C$141.57 per share, with a total value 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. The trade was a 0.64% increase in their position. In the last ninety days, insiders have acquired 46,100 shares of company stock valued at $6,479,348 and have sold 7,484 shares valued at $1,069,719. 29.02% of the stock is owned by corporate insiders.

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.