EQB (TSE:EQB) Price Target Raised to C$130.00

EQB (TSE:EQB) had its price objective hoisted by CIBC from C$113.00 to C$130.00 in a research report report published on Tuesday morning,BayStreet.CA reports.

Other research analysts have also recently issued research reports about the stock. Raymond James dropped their price target on shares of EQB from C$110.00 to C$106.00 in a research note on Wednesday, August 21st. BMO Capital Markets upped their price target on EQB from C$106.00 to C$119.00 in a research note on Monday, November 18th. Scotiabank upped their target price on EQB from C$109.00 to C$135.00 in a research note on Monday. Cormark reduced their price target on shares of EQB from C$121.00 to C$111.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, TD Securities decreased their target price on EQB from C$112.00 to C$109.00 and set a “buy” rating for the company in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$114.25.

EQB Price Performance

EQB stock opened at C$111.51 on Tuesday. The business’s fifty day moving average is C$106.60 and its 200 day moving average is C$97.53. The stock has a market capitalization of C$4.28 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59. EQB has a one year low of C$74.04 and a one year high of C$111.95.

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

EQB Increases Dividend

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