EQB (TSE:EQB) Hits New 12-Month High Following Dividend Announcement

Shares of EQB Inc. (TSE:EQB) hit a new 52-week high during mid-day trading on Monday after the company announced a dividend. The company traded as high as C$99.50 and last traded at C$99.59, with a volume of 16690 shares trading hands. The stock had previously closed at C$98.62.

The newly announced dividend which will be paid on Monday, September 30th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.89%. This is a boost from EQB’s previous quarterly dividend of $0.45. EQB’s dividend payout ratio is presently 20.19%.

Analyst Upgrades and Downgrades

EQB has been the subject of a number of recent research reports. TD Securities reduced their target price on shares of EQB from C$112.00 to C$109.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Scotiabank cut their price objective on shares of EQB from C$113.00 to C$109.00 in a report on Monday, August 19th. Royal Bank of Canada boosted their target price on EQB from C$107.00 to C$109.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Cormark cut their price target on EQB from C$121.00 to C$111.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, Raymond James reduced their price objective on EQB from C$110.00 to C$106.00 in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$106.56.

EQB Trading Up 0.3 %

The company has a market capitalization of C$3.81 billion, a PE ratio of 10.64, a PEG ratio of 0.34 and a beta of 1.58. The business has a fifty day moving average of C$96.14 and a 200 day moving average of C$89.89.

EQB (TSE:EQB) last announced its earnings results on Wednesday, August 28th. The company reported C$2.96 earnings per share for the quarter, topping the consensus estimate of C$2.93 by C$0.03. The firm had revenue of C$327.24 million for the quarter, compared to the consensus estimate of C$325.00 million. EQB had a net margin of 39.67% and a return on equity of 14.70%. Equities analysts forecast that EQB Inc. will post 12.6726343 EPS for the current fiscal year.

EQB Company Profile

EQB Inc, through its subsidiary, Equitable Bank, provides personal and commercial banking services to retail and commercial customers in Canada. The company accepts term deposits and guaranteed investment certificates, high interest savings accounts, institutional deposit notes and covered bonds, as well as specialized financing solutions.