EQB (TSE:EQB) Hits New 12-Month High on Analyst Upgrade

EQB Inc. (TSE:EQB)’s share price reached a new 52-week high during trading on Monday after CIBC raised their price target on the stock from C$113.00 to C$130.00. The stock traded as high as C$111.59 and last traded at C$111.50, with a volume of 10371 shares changing hands. The stock had previously closed at C$110.35.

A number of other research analysts have also commented on the company. TD Securities cut their target price on EQB from C$112.00 to C$109.00 and set a “buy” rating for the company in a research note on Friday, August 30th. BMO Capital Markets increased their price objective on shares of EQB from C$106.00 to C$119.00 in a research note on Monday, November 18th. Cormark reduced their price objective on shares of EQB from C$121.00 to C$111.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Raymond James lowered their target price on shares of EQB from C$110.00 to C$106.00 in a research note on Wednesday, August 21st. Finally, Scotiabank increased their price target on shares of EQB from C$109.00 to C$135.00 in a research report on Monday. One 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$114.25.

EQB Stock Performance

The stock has a 50-day moving average of C$106.13 and a 200 day moving average of C$97.25. The firm has a market capitalization of C$4.27 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59.

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

EQB Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 30th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.69%. This is a positive change from EQB’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, September 13th. EQB’s dividend payout ratio is presently 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.