Royal Bank of Canada Cuts EQB (TSE:EQB) Price Target to C$147.00

EQB (TSE:EQB) had its price target trimmed by Royal Bank of Canada from C$153.00 to C$147.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other brokerages have also weighed in on EQB. Jefferies Financial Group set a C$129.00 target price on shares of EQB and gave the stock a “buy” rating in a research report on Thursday, January 30th. Scotiabank lowered their target price on shares of EQB from C$130.00 to C$119.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Raymond James increased their price target on shares of EQB from C$112.00 to C$121.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. TD Securities lowered shares of EQB from a “buy” rating to a “hold” rating and lowered their price target for the company from C$126.00 to C$110.00 in a research report on Friday, December 6th. Finally, CIBC increased their price target on shares of EQB from C$113.00 to C$130.00 in a research report on Tuesday, November 26th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, EQB has a consensus rating of “Moderate Buy” and an average price target of C$122.80.

EQB Trading Down 0.2 %

Shares of EQB opened at C$101.10 on Thursday. The firm’s 50-day moving average is C$105.31 and its two-hundred day moving average is C$103.95. EQB has a twelve month low of C$78.24 and a twelve month high of C$114.22. The firm has a market capitalization of C$3.91 billion, a P/E ratio of 15.76, a PEG ratio of 0.34 and a beta of 1.59.

EQB Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.49 per share. This is an increase from EQB’s previous quarterly dividend of $0.47. The ex-dividend date was Friday, December 13th. This represents a $1.96 annualized dividend and a dividend yield of 1.94%. EQB’s dividend payout ratio is presently 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.