EQB Inc. (TSE:EQB) Raises Dividend to $0.61 Per Share

EQB Inc. (TSE:EQB) declared a quarterly dividend on Monday, June 15th, TickerTech Dividends reports. Stockholders of record on Tuesday, June 30th will be paid a dividend of 0.61 per share on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, June 15th. This is a 3.4% increase from EQB’s previous quarterly dividend of $0.59.

EQB Stock Up 0.6%

Shares of EQB traded up C$0.73 during mid-day trading on Friday, hitting C$120.56. The stock had a trading volume of 56,594 shares, compared to its average volume of 128,741. The company has a market cap of C$4.41 billion, a PE ratio of 23.69, a PEG ratio of 0.34 and a beta of 1.01. The company’s fifty day simple moving average is C$117.60 and its two-hundred day simple moving average is C$110.41. EQB has a fifty-two week low of C$83.93 and a fifty-two week high of C$126.51.

EQB (TSE:EQB) last issued its earnings results on Wednesday, May 27th. The company reported C$2.03 EPS for the quarter. The company had revenue of C$302.36 million during the quarter. EQB had a return on equity of 6.16% and a net margin of 6.61%. Equities analysts expect that EQB will post 12.5988235 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Raymond James Financial decreased their target price on EQB from C$127.00 to C$123.00 and set a “market perform” rating for the company in a research report on Friday, May 29th. Desjardins lifted their target price on EQB from C$130.00 to C$132.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Jefferies Financial Group boosted their price objective on EQB from C$110.00 to C$112.00 in a research report on Wednesday, May 20th. Scotiabank boosted their price objective on EQB from C$122.00 to C$125.00 and gave the company a “sector perform” rating in a research report on Monday, June 1st. Finally, TD Securities cut their target price on EQB from C$138.00 to C$132.00 in a research note on Thursday, February 26th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$122.50.

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. At Equitable Bank we are as invested in our employees as we are in our business. Thats why we are consistently recognized as one of Canadas Top Employers a rating that comes from our 1300+ employees.