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

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

Other equities research analysts have also recently issued reports about the stock. Raymond James boosted their price target on shares of EQB from C$112.00 to C$121.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. TD Securities cut EQB from a “buy” rating to a “hold” rating and reduced their price target for the company from C$126.00 to C$110.00 in a research report on Friday, December 6th. Jefferies Financial Group set a C$129.00 price target on EQB and gave the stock a “buy” rating in a research report on Thursday, January 30th. BMO Capital Markets increased their price objective on EQB from C$106.00 to C$119.00 in a report on Monday, November 18th. Finally, CIBC boosted their target price on shares of EQB from C$113.00 to C$130.00 in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$117.20.

EQB Stock Down 0.6 %

Shares of EQB opened at C$101.78 on Thursday. EQB has a twelve month low of C$78.24 and a twelve month high of C$114.22. The stock has a market capitalization of C$3.94 billion, a P/E ratio of 15.87, a P/E/G ratio of 0.34 and a beta of 1.59. The company has a 50 day moving average of C$105.05 and a 200-day moving average of C$103.68.

EQB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.93%. This is a positive change from EQB’s previous quarterly dividend of $0.47. EQB’s dividend payout ratio (DPR) is 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.