EQB Inc. (TSE:EQB) Increases Dividend to $0.47 Per Share

EQB Inc. (TSE:EQB) announced a quarterly dividend on Thursday, August 29th, Zacks reports. Investors of record on Friday, September 13th will be given a dividend of 0.47 per share on Monday, September 30th. This represents a $1.88 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Friday, September 13th. This is a boost from EQB’s previous quarterly dividend of $0.45.

EQB Price Performance

Shares of EQB opened at C$95.38 on Friday. The firm has a 50 day simple moving average of C$95.22 and a two-hundred day simple moving average of C$89.46. EQB has a one year low of C$66.41 and a one year high of C$98.88. The company has a market cap of C$3.65 billion, a P/E ratio of 10.24, a P/E/G ratio of 0.34 and a beta of 1.58.

EQB (TSE:EQB) last posted its quarterly earnings results on Wednesday, August 28th. The company reported C$2.96 EPS for the quarter, topping analysts’ consensus estimates of C$2.93 by C$0.03. The company had revenue of C$327.24 million during the quarter, compared to analysts’ expectations of C$325.00 million. EQB had a return on equity of 14.70% and a net margin of 39.67%. On average, analysts expect that EQB will post 11.4413146 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EQB. TD Securities dropped their target price on shares of EQB from C$112.00 to C$109.00 and set a “buy” rating for the company in a report on Friday. Cormark cut their target price 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. Raymond James lowered their price target on shares of EQB from C$110.00 to C$106.00 in a report on Wednesday, August 21st. Scotiabank cut their price objective on EQB from C$113.00 to C$109.00 in a report on Monday, August 19th. Finally, BMO Capital Markets upped their target price on EQB from C$104.00 to C$106.00 and gave the stock an “outperform” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, EQB presently has an average rating of “Moderate Buy” and a consensus price target of C$105.67.

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.