EQB (TSE:EQB) Shares Cross Below Two Hundred Day Moving Average – Time to Sell?

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 traded.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Raymond James lifted their price objective on shares of EQB from C$112.00 to C$121.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Royal Bank of Canada lowered their price target on shares of EQB from C$153.00 to C$147.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. TD Securities downgraded EQB from a “buy” rating to a “hold” rating and cut their price target for the stock from C$126.00 to C$110.00 in a research report on Friday, December 6th. Jefferies Financial Group set a C$129.00 price objective on EQB and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Scotiabank dropped their target price on EQB from C$130.00 to C$119.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$122.80.

EQB Stock Performance

The firm has a market capitalization of C$3.75 billion, a price-to-earnings ratio of 15.13, a P/E/G ratio of 0.34 and a beta of 1.59. The company has a 50 day moving average price of C$102.84 and a two-hundred day moving average price of C$103.97.

EQB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.10%. This is an increase from EQB’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. EQB’s dividend payout ratio (DPR) is presently 29.31%.

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.