EQB (TSE:EQB) Stock Crosses Above 200-Day Moving Average – What’s Next?

EQB Inc. (TSE:EQB) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$119.27 and traded as high as C$142.14. EQB shares last traded at C$140.27, with a volume of 42,990 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EQB. Raymond James Financial dropped their target price on EQB from C$127.00 to C$123.00 and set a “market perform” rating on the stock in a research note on Friday, May 29th. Jefferies Financial Group raised their price target on EQB from C$110.00 to C$112.00 in a report on Wednesday, May 20th. Scotiabank boosted their price target on EQB from C$122.00 to C$125.00 and gave the stock a “sector perform” rating in a research note on Monday, June 1st. TD cut their price objective on shares of EQB from C$132.00 to C$123.00 and set a “buy” rating on the stock in a report on Thursday, May 28th. Finally, Desjardins increased their price objective on shares of EQB from C$130.00 to C$132.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$122.50.

EQB Stock Performance

The firm’s 50 day simple moving average is C$129.77 and its 200 day simple moving average is C$119.43. The firm has a market capitalization of C$5.03 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 0.34 and a beta of 0.93.

EQB (TSE:EQB) last released its quarterly earnings data 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 firm had revenue of C$302.36 million for the quarter. As a group, sell-side analysts forecast that EQB Inc. will post 12.5988235 earnings per share for the current year.

EQB Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.44 annualized dividend and a yield of 1.7%. This is an increase from EQB’s previous quarterly dividend of $0.59. EQB’s payout ratio is 44.01%.

Insider Buying and Selling at EQB

In other news, Director Daniel Broten sold 1,500 shares of the business’s 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 completion of the transaction, the director owned 5,033 shares of the company’s stock, valued at C$713,377.42. The trade was a 22.96% decrease in their position. Also, insider Loblaw Companies Limited bought 8,000 shares of the stock in a transaction dated Monday, July 20th. The stock was bought at an average price of C$141.57 per share, for a total transaction of C$1,132,560.00. Following the purchase, the insider directly owned 1,250,100 shares of the company’s stock, valued at approximately C$176,976,657. The trade was a 0.64% increase in their ownership of the stock. In the last three months, insiders have bought 22,100 shares of company stock worth $3,167,188 and have sold 7,484 shares worth $1,069,719. Corporate insiders own 29.02% of the company’s stock.

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.