EQB (TSE:EQB) Upgraded to “Market Perform” at Raymond James Financial

EQB (TSE:EQB) was upgraded by Raymond James Financial from an “underperform” rating to a “market perform” rating in a report issued on Tuesday, BayStreet reports. The brokerage currently has a C$124.00 price objective on the stock, up from their prior price objective of C$120.00. Raymond James Financial‘s price target indicates a potential upside of 1.46% from the company’s current price.

Several other equities research analysts have also commented on the stock. TD upped their price target 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. Jefferies Financial Group dropped their price objective on shares of EQB from C$128.00 to C$127.00 in a report on Thursday, September 3rd. Royal Bank Of Canada boosted their target price on shares of EQB from C$131.00 to C$146.00 and gave the company an “outperform” rating in a research report on Friday, August 28th. National Bank Financial upped their target price on shares of EQB from C$120.00 to C$143.00 and gave the company a “sector perform” rating in a report on Thursday, August 13th. Finally, Desjardins reduced their target price on shares of EQB from C$155.00 to C$150.00 and set a “buy” rating for the company in a report on Friday, August 28th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$139.50.

EQB Stock Up 0.3%

Shares of TSE EQB traded up C$0.31 during trading on Tuesday, reaching C$122.22. 48,124 shares of the company traded hands, compared to its average volume of 120,973. The firm has a 50 day simple moving average of C$124.57 and a 200-day simple moving average of C$122.29. EQB has a 52-week low of C$83.93 and a 52-week high of C$150.32. The stock has a market capitalization of C$5.20 billion, a PE ratio of -436.50, a P/E/G ratio of 0.34 and a beta of 0.86.

EQB (TSE:EQB) last posted its quarterly earnings data on Wednesday, August 26th. The company reported C$2.12 EPS for the quarter. EQB had a negative return on equity of 0.07% and a negative net margin of 0.08%. The company had revenue of C$393.04 million during the quarter. As a group, research analysts predict that EQB will post 12.60 EPS for the current year.

Insider Transactions at EQB

In related news, Director Andrew Michael Bunston acquired 200 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The shares were purchased at an average price of C$126.37 per share, with a total value of C$25,274.00. Following the completion of the purchase, the director directly owned 200 shares of the company’s stock, valued at C$25,274. This represents a ? increase in their ownership of the stock. Also, insider Loblaw Companies Limited acquired 8,000 shares of the firm’s stock in a transaction dated Friday, September 25th. The stock was bought at an average cost of C$127.05 per share, for a total transaction of C$1,016,400.00. Following the purchase, the insider directly owned 1,780,100 shares of the company’s stock, valued at approximately C$226,161,705. This trade represents a 0.45% increase in their ownership of the stock. In the last 90 days, insiders acquired 192,200 shares of company stock valued at $24,729,834. Company insiders own 29.02% of the company’s stock.

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.