EQB (TSE:EQB) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

EQB Inc. (TSE:EQB) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$104.02 and traded as low as C$94.81. EQB shares last traded at C$96.18, with a volume of 76,009 shares traded.

Wall Street Analyst Weigh In

Several brokerages have commented on EQB. National Bankshares lifted their price objective on shares of EQB from C$109.00 to C$117.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Scotiabank decreased their target price on shares of EQB from C$130.00 to C$119.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. 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. Cormark lowered EQB from a “buy” rating to a “market perform” rating and reduced their price objective for the company from C$131.00 to C$110.00 in a research note on Thursday, December 5th. Finally, Royal Bank of Canada lowered their target price on EQB from C$153.00 to C$147.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, EQB has a consensus rating of “Moderate Buy” and a consensus price target of C$122.80.

EQB Stock Performance

The stock has a market cap of C$3.72 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59. The company has a 50 day moving average of C$104.39 and a two-hundred day moving average of C$104.02.

EQB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be given a $0.51 dividend. The ex-dividend date is Friday, March 14th. This is a boost from EQB’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.12%. EQB’s payout ratio 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.