EQB (TSE:EQB) Sets New 12-Month High – What’s Next?

EQB Inc. (TSE:EQB) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as C$105.69 and last traded at C$105.50, with a volume of 16549 shares changing hands. The stock had previously closed at C$104.46.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on EQB shares. CIBC upped their target price on EQB from C$105.00 to C$113.00 in a research note on Friday, September 6th. Scotiabank reduced their price objective on shares of EQB from C$113.00 to C$109.00 in a research report on Monday, August 19th. Cormark dropped their target price on shares of EQB from C$121.00 to C$111.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. TD Securities reduced 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 research report on Friday, August 30th. Finally, BMO Capital Markets lifted their price objective on EQB from C$104.00 to C$106.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$106.56.

EQB Trading Up 1.1 %

The company has a market capitalization of C$4.05 billion, a PE ratio of 11.34, a PEG ratio of 0.34 and a beta of 1.58. The company has a fifty day simple moving average of C$98.42 and a 200-day simple moving average of C$92.11.

EQB (TSE:EQB) last announced its quarterly earnings data on Wednesday, August 28th. The company reported C$2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.93 by C$0.03. EQB had a net margin of 39.67% and a return on equity of 14.70%. The firm had revenue of C$327.24 million during the quarter, compared to analyst estimates of C$325.00 million. On average, equities analysts predict that EQB Inc. will post 12.5963415 EPS for the current fiscal 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 given a $0.47 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.88 dividend on an annualized basis and a yield of 1.78%. This is an increase from EQB’s previous quarterly dividend of $0.45. EQB’s 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.