EQB (TSE:EQB) Price Target Raised to C$146.00

EQB (TSE:EQB) had its price target raised by Royal Bank Of Canada from C$131.00 to C$146.00 in a report issued on Friday,BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other analysts also recently issued reports on the stock. Canadian Imperial Bank of Commerce lowered their price target on shares of EQB from C$165.00 to C$154.00 and set an “outperformer” rating on the stock in a report on Friday. Raymond James Financial lifted their price objective on shares of EQB from C$123.00 to C$136.00 and gave the company a “sector perform” rating in a report on Thursday, August 13th. Desjardins decreased their price objective on shares of EQB from C$155.00 to C$150.00 and set a “buy” rating for the company in a research report on Friday. Jefferies Financial Group increased their target price on shares of EQB from C$122.00 to C$129.00 and gave the stock a “hold” rating in a research note on Thursday, August 13th. Finally, TD increased their target price on shares of EQB from C$123.00 to C$154.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$138.30.

EQB Stock Performance

EQB stock opened at C$125.60 on Friday. EQB has a 12 month low of C$83.93 and a 12 month high of C$150.32. The stock’s 50 day simple moving average is C$136.98 and its two-hundred day simple moving average is C$123.66. The firm has a market cap of C$5.35 billion, a PE ratio of -448.57, a P/E/G ratio of 0.34 and a beta of 0.92.

EQB (TSE:EQB) last issued its quarterly earnings data on Wednesday, August 26th. The company reported C$2.12 EPS for the quarter. The business had revenue of C$393.04 million for the quarter. EQB had a negative net margin of 0.08% and a negative return on equity of 0.07%. On average, equities research analysts forecast that EQB will post 12.5988235 EPS for the current year.

EQB Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, June 15th. This is a positive change from EQB’s previous quarterly dividend of $0.59. EQB’s dividend payout ratio is currently -828.57%.

Insider Buying and Selling

In other EQB news, insider Loblaw Companies Limited bought 16,000 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were purchased at an average price of C$124.91 per share, for a total transaction of C$1,998,560.00. Following the transaction, the insider directly owned 1,474,100 shares of the company’s stock, valued at approximately C$184,129,831. This represents a 1.10% increase in their position. Also, Director Darren Lorimer sold 1,850 shares of EQB stock in a transaction 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 sale, the director directly owned 5,138 shares in the company, valued at C$765,562. This represents a 26.47% decrease in their position. In the last quarter, insiders have bought 78,100 shares of company stock worth $10,641,748 and have sold 7,484 shares worth $1,069,719. Company insiders own 29.02% of the company’s stock.

Key EQB News

Here are the key news stories impacting EQB this week:

• Positive Sentiment: Insider buying signals confidence: Loblaw Companies Limited purchased a combined 32,000 EQB shares in three transactions on August 24, 26 and 27, spending approximately C$4.2 million. Its ownership rose to 1.47 million shares, potentially providing a positive signal about the long-term outlook. EQB insider trading report
• Positive Sentiment: Several analysts remain bullish: BMO Capital maintained a Buy rating and C$145 target, while RBC raised its target to C$146 and kept an Outperform rating. Desjardins and CIBC also retained positive ratings with C$150 and C$154 targets, respectively. These targets imply substantial potential upside if EQB successfully integrates PC Financial. BMO analyst rating
• Neutral Sentiment: Analyst views are mixed: Raymond James downgraded EQB to Underperform and cut its price target to C$120 from C$136, offsetting the more optimistic recommendations from other banks. EQB analyst ratings
• Negative Sentiment: Third-quarter results raised credit concerns: EQB reported a C$127 million net loss after recording a C$219 million provision for credit losses tied largely to the PC Financial transaction. Although revenue reached C$393.04 million and adjusted EPS was reported at C$2.12, the large provision weakened profitability and reduced return on equity to 6.16%. MarketWatch EQB third-quarter loss article
• Negative Sentiment: Near-term execution risk has increased: Investors are weighing whether PC Financial’s expected diversification of deposits and revenue will ultimately offset integration costs and credit losses. The earnings-related decline reflects skepticism about the acquisition’s immediate financial impact. Investment Executive EQB results article

About EQB

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.