EQB (TSE:EQB) Stock Passes Below 200-Day Moving Average – Here’s Why

EQB Inc. (TSE:EQB)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$100.32 and traded as low as C$98.02. EQB shares last traded at C$98.97, with a volume of 29,812 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Scotiabank dropped their target price on EQB from C$135.00 to C$130.00 in a report on Friday, December 6th. BMO Capital Markets lifted their price objective on shares of EQB from C$106.00 to C$119.00 in a research note on Monday, November 18th. Cormark downgraded shares of EQB from a “buy” rating to a “market perform” rating and reduced their target price for the company from C$131.00 to C$110.00 in a research note on Thursday, December 5th. TD Securities lowered shares of EQB from a “buy” rating to a “hold” rating and lowered their target price for the stock from C$126.00 to C$110.00 in a report on Friday, December 6th. Finally, CIBC upped their price target on shares of EQB from C$113.00 to C$130.00 in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$113.63.

EQB Price Performance

The stock’s fifty day moving average price is C$105.02 and its 200 day moving average price is C$100.32. The stock has a market capitalization of C$3.80 billion, a P/E ratio of 10.40, a PEG ratio of 0.34 and a beta of 1.59.

EQB Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, December 13th. This is a positive change from EQB’s previous quarterly dividend of $0.47. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.98%. EQB’s dividend payout ratio (DPR) is 19.75%.

About EQB

EQB Inc formerly Equitable Group Inc trades on the Toronto Stock Exchange TSX: EQB and EQB.PR.C and serves over 360000 Canadians through its wholly owned subsidiary Equitable Bank Canadas Challenger Bank. Equitable Bank has grown to become the countrys eighth largest independent Schedule I bank with a clear mandate to drive real change in Canadian banking to enrich peoples lives.