EQB (TSE:EQB) Given New C$130.00 Price Target at CIBC

EQB (TSE:EQB) had its target price boosted by CIBC from C$113.00 to C$130.00 in a report published on Tuesday,BayStreet.CA reports.

Other equities research analysts have also issued research reports about the stock. Scotiabank upped their price objective on shares of EQB from C$109.00 to C$135.00 in a report on Monday. TD Securities cut their price target on shares of EQB from C$112.00 to C$109.00 and set a “buy” rating for the company in a report on Friday, August 30th. Raymond James reduced their price target on shares of EQB from C$110.00 to C$106.00 in a research report on Wednesday, August 21st. Cormark lowered their price objective on EQB from C$121.00 to C$111.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Finally, BMO Capital Markets lifted their target price on EQB from C$106.00 to C$119.00 in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$114.25.

EQB Price Performance

EQB opened at C$111.33 on Tuesday. The company’s 50 day simple moving average is C$106.13 and its two-hundred day simple moving average is C$97.25. The firm has a market capitalization of C$4.27 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59. EQB has a 1-year low of C$74.00 and a 1-year high of C$111.95.

EQB (TSE:EQB) last released its quarterly earnings data on Wednesday, August 28th. The company reported C$2.96 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.93 by C$0.03. EQB had a return on equity of 14.70% and a net margin of 39.67%. The company had revenue of C$327.24 million for the quarter, compared to analyst estimates of C$325.00 million. On average, equities analysts anticipate that EQB will post 12.5988235 earnings per share for the current fiscal year.

EQB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 30th were given a $0.47 dividend. This is an increase from EQB’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Friday, September 13th. EQB’s payout ratio is currently 19.75%.

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.