EQB (TSE:EQB) Reaches New 12-Month High at $104.66

EQB Inc. (TSE:EQB) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$104.66 and last traded at C$104.08, with a volume of 56318 shares trading hands. The stock had previously closed at C$104.47.

Analysts Set New Price Targets

Several equities research analysts recently commented on EQB shares. BMO Capital Markets boosted their price objective on shares of EQB from C$104.00 to C$106.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Cormark dropped their price objective on shares of EQB from C$121.00 to C$111.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. TD Securities dropped their price objective on shares of EQB from C$112.00 to C$109.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. CIBC boosted their price objective on shares of EQB from C$105.00 to C$113.00 in a research note on Friday, September 6th. Finally, Raymond James dropped their price objective on shares of EQB from C$110.00 to C$106.00 in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$106.56.

EQB Price Performance

The company has a market cap of C$4.00 billion, a P/E ratio of 11.20, a P/E/G ratio of 0.34 and a beta of 1.58. The stock’s 50-day moving average is C$97.65 and its two-hundred day moving average is C$91.37.

EQB (TSE:EQB) last issued its quarterly earnings data on Wednesday, August 28th. The company reported C$2.96 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.93 by C$0.03. The company 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%. On average, analysts predict that EQB Inc. will post 12.5963415 EPS for the current year.

EQB Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 30th were issued a dividend of $0.47 per share. This is a boost from EQB’s previous quarterly dividend of $0.45. This represents a $1.88 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Friday, September 13th. EQB’s dividend payout ratio is currently 20.19%.

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.