EQB (TSE:EQB) Sets New 1-Year High After Analyst Upgrade

EQB Inc. (TSE:EQB) shares hit a new 52-week high on Monday after BMO Capital Markets raised their price target on the stock from C$106.00 to C$119.00. The company traded as high as C$109.80 and last traded at C$109.33, with a volume of 28101 shares changing hands. The stock had previously closed at C$107.87.

Several other equities research analysts have also weighed in on the company. CIBC raised their target price on EQB from C$105.00 to C$113.00 in a research report on Friday, September 6th. TD Securities reduced their price objective on shares of EQB from C$112.00 to C$109.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Raymond James lowered their target price on shares of EQB from C$110.00 to C$106.00 in a report on Wednesday, August 21st. Cormark cut their price target on shares of EQB from C$121.00 to C$111.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Scotiabank reduced their price target on shares of EQB from C$113.00 to C$109.00 in a research report on Monday, August 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$108.00.

EQB Trading Up 0.7 %

The stock has a market cap of C$4.17 billion, a price-to-earnings ratio of 11.48, a P/E/G ratio of 0.34 and a beta of 1.59. The stock’s 50-day moving average is C$104.85 and its 200-day moving average is C$96.26.

EQB (TSE:EQB) last issued its quarterly earnings data on Wednesday, August 28th. The company reported C$2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.93 by C$0.03. The company had revenue of C$327.24 million during the quarter, compared to the consensus estimate of C$325.00 million. EQB had a net margin of 39.67% and a return on equity of 14.70%. On average, equities analysts predict 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. Stockholders of record on Monday, September 30th were given a $0.47 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.88 annualized dividend and a dividend yield of 1.73%. This is an increase from EQB’s previous quarterly dividend of $0.45. EQB’s payout ratio is presently 19.75%.

EQB Company Profile

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.