Insider Selling: EQB (TSE:EQB) Director Sells 1,500 Shares of Stock

EQB Inc. (TSE:EQB) Director Daniel Broten sold 1,500 shares of EQB stock in a transaction dated Friday, July 3rd. The stock was sold at an average price of C$141.74, for a total value of C$212,610.00. Following the sale, the director directly owned 5,033 shares of the company’s stock, valued at approximately C$713,377.42. This trade represents a 22.96% decrease in their position.

Daniel Broten also recently made the following trade(s):

• On Friday, July 3rd, Daniel Broten sold 200 shares of EQB stock. The stock was sold at an average price of C$141.51, for a total transaction of C$28,302.00.
• On Friday, July 3rd, Daniel Broten sold 41 shares of EQB stock. The shares were sold at an average price of C$141.50, for a total transaction of C$5,801.50.

EQB Stock Performance

Shares of EQB stock traded up C$2.25 on Friday, hitting C$139.15. 83,602 shares of the company’s stock traded hands, compared to its average volume of 123,605. The stock has a market capitalization of C$5.10 billion, a price-to-earnings ratio of 27.34, a P/E/G ratio of 0.34 and a beta of 1.01. The company’s fifty day simple moving average is C$121.23 and its 200 day simple moving average is C$114.22. EQB Inc. has a one year low of C$83.93 and a one year high of C$142.65.

EQB (TSE:EQB) last posted its quarterly earnings results on Wednesday, May 27th. The company reported C$2.03 earnings per share for the quarter. EQB had a net margin of 6.61% and a return on equity of 6.16%. The business had revenue of C$302.36 million during the quarter. As a group, sell-side analysts anticipate that EQB Inc. will post 12.5988235 earnings per share for the current fiscal year.

EQB Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were given a $0.61 dividend. The ex-dividend date was Monday, June 15th. This is an increase from EQB’s previous quarterly dividend of $0.59. This represents a $2.44 annualized dividend and a yield of 1.8%. EQB’s dividend payout ratio is presently 44.01%.

Analysts Set New Price Targets

EQB has been the subject of several research analyst reports. Desjardins increased their price objective on EQB from C$130.00 to C$132.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. TD decreased their price objective on shares of EQB from C$132.00 to C$123.00 and set a “buy” rating for the company in a report on Thursday, May 28th. Raymond James Financial dropped their target price on shares of 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. National Bank Financial set a C$120.00 target price on shares of EQB and gave the company a “sector perform” rating in a research note on Friday, May 15th. Finally, Jefferies Financial Group boosted their price target on shares of EQB from C$110.00 to C$112.00 in a research report on Wednesday, May 20th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of C$122.50.

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. 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.