EQB (TSE:EQB) Price Target Lowered to C$119.00 at Scotiabank

EQB (TSE:EQB) had its price target reduced by Scotiabank from C$130.00 to C$119.00 in a research note published on Thursday morning,BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

Several other research firms have also weighed in on EQB. BMO Capital Markets raised their price objective on shares of EQB from C$106.00 to C$119.00 in a report on Monday, November 18th. TD Securities cut EQB from a “buy” rating to a “hold” rating and dropped their price target for the company from C$126.00 to C$110.00 in a report on Friday, December 6th. Desjardins set a C$130.00 price objective on EQB and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Raymond James increased their target price on EQB from C$112.00 to C$121.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Finally, Cormark cut EQB from a “buy” rating to a “market perform” rating and cut their price target for the company from C$131.00 to C$110.00 in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$117.20.

EQB Stock Down 3.4 %

Shares of EQB stock opened at C$102.35 on Thursday. EQB has a 12-month low of C$78.24 and a 12-month high of C$114.22. The stock has a market capitalization of C$3.96 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59. The company has a 50-day simple moving average of C$105.00 and a 200 day simple moving average of C$103.62.

EQB Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.49 per share. This is a boost from EQB’s previous quarterly dividend of $0.47. This represents a $1.96 annualized dividend and a yield of 1.91%. The ex-dividend date was Friday, December 13th. EQB’s payout ratio is currently 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.