BMO Capital Markets Increases Equitable Group (TSE:EQB) Price Target to C$130.00

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Equitable Group (TSE:EQB) had its target price upped by BMO Capital Markets from C$125.00 to C$130.00 in a report issued on Wednesday morning, BayStreet.CA reports.

EQB has been the topic of a number of other research reports. Royal Bank of Canada lifted their price target on shares of Equitable Group from C$120.00 to C$137.00 and gave the stock an outperform rating in a research note on Wednesday. CIBC lifted their price target on shares of Equitable Group from C$94.00 to C$97.00 in a research note on Tuesday, July 30th. National Bank Financial lifted their price objective on Equitable Group from C$90.00 to C$125.00 and gave the company a sector perform rating in a report on Tuesday, October 29th. Finally, TD Securities lifted their price objective on Equitable Group from C$125.00 to C$130.00 and gave the company a buy rating in a report on Wednesday.

EQB opened at C$113.31 on Wednesday. Equitable Group has a fifty-two week low of C$57.85 and a fifty-two week high of C$121.87. The firm’s fifty day moving average price is C$108.44 and its two-hundred day moving average price is C$87.43. The company has a market capitalization of $1.92 billion and a P/E ratio of 10.58.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, December 12th. This is a boost from Equitable Group’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.24%. Equitable Group’s dividend payout ratio (DPR) is presently 10.83%.

In other Equitable Group news, Director Kimberly Kukulowicz sold 3,174 shares of Equitable Group stock in a transaction on Friday, September 6th. The stock was sold at an average price of C$100.18, for a total transaction of C$317,971.32. Following the completion of the transaction, the director now directly owns 1,063 shares of the company’s stock, valued at C$106,491.34. Also, Director Timothy Paul Charron sold 250 shares of Equitable Group stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of C$104.04, for a total value of C$26,010.00. Following the transaction, the director now directly owns 441 shares of the company’s stock, valued at C$45,881.64. Over the last three months, insiders have sold 9,424 shares of company stock valued at $946,311.

About Equitable Group

Equitable Group Inc, through its subsidiary, Equitable Bank, provides various financial services to retail and commercial customers in Canada. The company accepts term deposits and guaranteed investment certificates (GICs), high interest savings accounts (HISAs), tax-free savings accounts, and institutional deposit notes.

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