EQB (TSE:EQB) Shares Cross Below 200 Day Moving Average – Here’s Why

EQB Inc. (TSE:EQB) shares passed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$126.61 and traded as low as C$117.82. EQB shares last traded at C$118.31, with a volume of 274,793 shares traded.

Analysts Set New Price Targets

Several research firms have commented on EQB. Scotiabank lowered their target price on shares of EQB from C$141.00 to C$135.00 in a research note on Monday, August 31st. Desjardins dropped their price target on EQB from C$155.00 to C$150.00 and set a “buy” rating on the stock in a research note on Friday, August 28th. Royal Bank Of Canada raised their target price on EQB from C$131.00 to C$146.00 and gave the stock an “outperform” rating in a research report on Friday, August 28th. Canadian Imperial Bank of Commerce reduced their price objective on EQB from C$165.00 to C$154.00 and set an “outperformer” rating for the company in a research note on Friday, August 28th. Finally, Jefferies Financial Group decreased their price objective on EQB from C$128.00 to C$127.00 in a research report on Thursday, September 3rd. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$139.10.

EQB Price Performance

The stock has a market cap of C$5.01 billion, a price-to-earnings ratio of -420.21, a P/E/G ratio of 0.34 and a beta of 0.86. The business has a fifty day moving average of C$127.06 and a 200 day moving average of C$126.65.

EQB (TSE:EQB) last issued its quarterly earnings data on Wednesday, August 26th. The company reported C$2.12 EPS for the quarter. The business had revenue of C$393.04 million for the quarter. EQB had a negative return on equity of 0.07% and a negative net margin of 0.08%. On average, analysts expect that EQB Inc. will post 12.60 EPS for the current year.

EQB Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, September 15th. This is a positive change from EQB’s previous quarterly dividend of $0.61. EQB’s dividend payout ratio is currently -828.57%.

Insider Buying and Selling

In other EQB news, Director Andrew Michael Bunston purchased 200 shares of the company’s stock in a transaction on Tuesday, September 22nd. The shares were bought at an average cost of C$126.37 per share, with a total value of C$25,274.00. Following the transaction, the director directly owned 200 shares in the company, valued at approximately C$25,274. This represents a ∞ increase in their position. Also, insider Loblaw Companies Limited bought 8,000 shares of the business’s stock in a transaction that occurred on Friday, September 25th. The shares were bought at an average price of C$127.05 per share, with a total value of C$1,016,400.00. Following the completion of the purchase, the insider owned 1,780,100 shares in the company, valued at approximately C$226,161,705. The trade was a 0.45% increase in their ownership of the stock. Insiders acquired a total of 200,200 shares of company stock worth $25,869,034 in the last ninety days. Insiders own 29.02% of the company’s stock.

EQB Company Profile

EQB Inc (TSX: EQB) is a leading Canadian financial services company with approximately $151 billion in combined assets under management and administration. It is the parent company of Equitable Bank, the country’s seventh largest Schedule I bank by assets, which operates EQ Bank, Canada’s Challenger Bank. Our purpose is to remake banking so every Canadian gets ahead, every day. Since 1970, we have built thoughtful financial solutions that serve more than 4 million customers, turning everyday moments into meaningful progress.