EQB (TSE:EQB) Stock Passes Below 200-Day Moving Average – Here’s Why

EQB Inc. (TSE:EQB) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$103.32 and traded as low as C$87.66. EQB shares last traded at C$90.50, with a volume of 93,396 shares changing hands.

Analyst Ratings Changes

A number of research firms recently commented on EQB. Royal Bank of Canada dropped their target price 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. Jefferies Financial Group set a C$129.00 price objective on EQB and gave the stock a “buy” rating in a research note on Thursday, January 30th. National Bankshares boosted their target price on EQB from C$109.00 to C$117.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Scotiabank decreased their price target on EQB from C$130.00 to C$119.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Finally, Desjardins cut their price objective on EQB from C$130.00 to C$126.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$122.80.

EQB Price Performance

The firm has a market capitalization of C$3.50 billion, a P/E ratio of 14.11, a PEG ratio of 0.34 and a beta of 1.59. The company’s 50 day moving average price is C$98.63 and its 200 day moving average price is C$103.32.

EQB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were issued a $0.51 dividend. The ex-dividend date was Friday, March 14th. This is a positive change from EQB’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.25%. EQB’s dividend payout ratio (DPR) is 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.