EQB (TSE:EQB) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

EQB Inc. (TSE:EQB) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$104.02 and traded as low as C$96.82. EQB shares last traded at C$97.31, with a volume of 66,398 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EQB. Royal Bank of Canada decreased their price objective on EQB from C$153.00 to C$147.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Scotiabank lowered their price objective on shares of EQB from C$130.00 to C$119.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Cormark downgraded shares of EQB from a “buy” rating to a “market perform” rating and cut their price objective for the stock from C$131.00 to C$110.00 in a research report on Thursday, December 5th. TD Securities cut shares of EQB from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$126.00 to C$110.00 in a research note on Friday, December 6th. Finally, Desjardins dropped their target price on EQB from C$130.00 to C$126.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$122.80.

EQB Price Performance

The company has a market cap of C$3.76 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 0.34 and a beta of 1.59. The business’s 50-day simple moving average is C$103.07 and its 200-day simple moving average is C$104.02.

EQB Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be paid a $0.51 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 2.10%. This is a positive change from EQB’s previous quarterly dividend of $0.49. EQB’s dividend payout ratio is presently 29.31%.

EQB Company Profile

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.