EQB (TSE:EQB) Reaches New 1-Year High on Analyst Upgrade

EQB Inc. (TSE:EQB) shares hit a new 52-week high during trading on Monday after Scotiabank raised their price target on the stock from C$109.00 to C$135.00. The stock traded as high as C$111.59 and last traded at C$111.50, with a volume of 10371 shares. The stock had previously closed at C$110.35.

Several other equities analysts also recently weighed in on the company. TD Securities lowered their target price on 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. Raymond James lowered their price objective on EQB from C$110.00 to C$106.00 in a research report on Wednesday, August 21st. Cormark reduced their target price on shares of EQB from C$121.00 to C$111.00 and set a “buy” rating for the company in a report on Thursday, August 29th. CIBC lifted their price target on shares of EQB from C$105.00 to C$113.00 in a report on Friday, September 6th. Finally, BMO Capital Markets increased their price objective on shares of EQB from C$106.00 to C$119.00 in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, EQB has a consensus rating of “Moderate Buy” and an average target price of C$112.13.

EQB Stock Up 0.2 %

The company’s 50 day moving average price is C$105.90 and its two-hundred day moving average price is C$97.06. The firm has a market cap of C$4.24 billion, a PE ratio of 11.61, a P/E/G ratio of 0.34 and a beta of 1.59.

EQB (TSE:EQB) last released its earnings results on Wednesday, August 28th. The company reported C$2.96 EPS for the quarter, beating 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 firm had revenue of C$327.24 million for the quarter, compared to analysts’ expectations of C$325.00 million. On average, analysts expect that EQB Inc. will post 12.5988235 earnings per share for the current fiscal year.

EQB Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 30th were paid a $0.47 dividend. This is an increase from EQB’s previous quarterly dividend of $0.45. This represents a $1.88 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Friday, September 13th. EQB’s dividend 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.