EQB Inc. (TSE:EQB) Receives Average Rating of “Moderate Buy” from Brokerages

EQB Inc. (TSE:EQB) has been assigned a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is C$104.44.

EQB has been the subject of several recent research reports. TD Securities increased their price target on EQB from C$98.00 to C$101.00 and gave the company a “buy” rating in a research note on Sunday, June 2nd. Royal Bank of Canada increased their target price on shares of EQB from C$107.00 to C$109.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. BMO Capital Markets boosted their price target on shares of EQB from C$102.00 to C$104.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. CIBC increased their price objective on shares of EQB from C$100.00 to C$110.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Finally, Scotiabank boosted their target price on shares of EQB from C$111.00 to C$113.00 and gave the company an “outperform” rating in a report on Friday, May 31st.

EQB Price Performance

TSE:EQB opened at C$94.76 on Wednesday. EQB has a one year low of C$66.41 and a one year high of C$97.64. The firm’s 50 day simple moving average is C$87.03 and its 200 day simple moving average is C$87.57. The company has a market cap of C$3.62 billion, a PE ratio of 10.18, a P/E/G ratio of 0.34 and a beta of 1.63.

EQB (TSE:EQB) last issued its quarterly earnings data on Wednesday, May 29th. The company reported C$2.67 earnings per share for the quarter, missing the consensus estimate of C$2.71 by C($0.04). The business had revenue of C$316.66 million during the quarter, compared to the consensus estimate of C$300.40 million. EQB had a return on equity of 14.70% and a net margin of 39.67%. Equities research analysts expect that EQB will post 11.5759669 EPS for the current year.

EQB Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 28th were paid a $0.45 dividend. This is an increase from EQB’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Friday, June 14th. EQB’s payout ratio is 18.05%.

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.