EQB (TSE:EQB) Hits New 1-Year High Following Analyst Upgrade

EQB Inc. (TSE:EQB) shares hit a new 52-week high during trading on Monday after BMO Capital Markets raised their price target on the stock from C$106.00 to C$119.00. The stock traded as high as C$109.80 and last traded at C$109.33, with a volume of 28101 shares traded. The stock had previously closed at C$107.87.

Several other analysts have also issued reports on EQB. Raymond James dropped their price target on shares of EQB from C$110.00 to C$106.00 in a research report on Wednesday, August 21st. 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 report on Friday, August 30th. Scotiabank dropped their price objective on shares of EQB from C$113.00 to C$109.00 in a research report on Monday, August 19th. CIBC increased their price objective on shares of EQB from C$105.00 to C$113.00 in a research report on Friday, September 6th. Finally, 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 report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, EQB currently has a consensus rating of “Moderate Buy” and a consensus price target of C$108.00.

EQB Stock Performance

The business’s fifty day moving average is C$105.05 and its 200-day moving average is C$96.43. The firm has a market cap of C$4.17 billion, a P/E ratio of 11.41, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59.

EQB (TSE:EQB) last released its quarterly earnings results on Wednesday, August 28th. The company reported C$2.96 earnings per share (EPS) for the quarter, topping the consensus estimate 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. Analysts predict that EQB Inc. will post 12.5988235 EPS for the current fiscal year.

EQB Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 30th were paid a $0.47 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.88 annualized dividend and a dividend yield of 1.73%. This is a positive change from EQB’s previous quarterly dividend of $0.45. EQB’s payout ratio is currently 19.75%.

About EQB

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.