CIBC Raises EQB (TSE:EQB) Price Target to C$130.00

EQB (TSE:EQB) had its price target raised by CIBC from C$113.00 to C$130.00 in a report issued on Tuesday,BayStreet.CA reports.

A number of other research firms have also recently weighed in on EQB. TD Securities cut their price target on EQB from C$112.00 to C$109.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Scotiabank raised their target price on EQB from C$109.00 to C$135.00 in a research report on Monday. Raymond James lowered their price target on EQB from C$110.00 to C$106.00 in a report on Wednesday, August 21st. Cormark cut their price objective on shares of EQB from C$121.00 to C$111.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, BMO Capital Markets upped their target price on shares of EQB from C$106.00 to C$119.00 in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$114.25.

EQB Stock Performance

Shares of EQB stock opened at C$111.33 on Tuesday. The business has a 50-day simple moving average of C$106.13 and a 200-day simple moving average of C$97.25. EQB has a one year low of C$74.00 and a one year high of C$111.95. The company has a market cap of C$4.27 billion, a PE ratio of 11.69, a P/E/G ratio of 0.34 and a beta of 1.59.

EQB (TSE:EQB) last announced its quarterly earnings data on Wednesday, August 28th. The company reported C$2.96 EPS for the quarter, beating analysts’ consensus estimates of C$2.93 by C$0.03. The company had revenue of C$327.24 million for the quarter, compared to the consensus estimate of C$325.00 million. EQB had a net margin of 39.67% and a return on equity of 14.70%. On average, sell-side analysts predict that EQB will post 12.5988235 earnings per share for the current fiscal year.

EQB Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 30th were paid a $0.47 dividend. The ex-dividend date of this dividend was Friday, September 13th. This is a positive change from EQB’s previous quarterly dividend of $0.45. This represents a $1.88 dividend on an annualized basis and a yield of 1.69%. EQB’s payout ratio is currently 19.75%.

About EQB

EQB Inc, through its subsidiary, Equitable Bank, provides personal and commercial banking services to retail and commercial customers in Canada. The company accepts term deposits and guaranteed investment certificates, high interest savings accounts, institutional deposit notes and covered bonds, as well as specialized financing solutions.