EQB (TSE:EQB) Reaches New 12-Month High at $104.66

EQB Inc. (TSE:EQB) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$104.66 and last traded at C$104.08, with a volume of 56318 shares traded. The stock had previously closed at C$104.47.

Wall Street Analysts Forecast Growth

EQB has been the subject of a number of analyst reports. Scotiabank reduced their price objective on shares of EQB from C$113.00 to C$109.00 in a research note on Monday, August 19th. TD Securities dropped their target price on shares of 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. Cormark dropped their target price on shares of EQB from C$121.00 to C$111.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. CIBC upped their target price on shares of EQB from C$105.00 to C$113.00 in a research report on Friday, September 6th. Finally, BMO Capital Markets upped their target price on shares of EQB from C$104.00 to C$106.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$106.56.

EQB Price Performance

The firm has a market cap of C$4.00 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 0.34 and a beta of 1.58. The stock’s fifty day moving average price is C$97.65 and its 200-day moving average price is C$91.37.

EQB (TSE:EQB) last posted its earnings results on Wednesday, August 28th. The company reported C$2.96 EPS for the quarter, beating analysts’ consensus estimates of C$2.93 by C$0.03. The company had revenue of C$327.24 million for the quarter, compared to analysts’ expectations of C$325.00 million. EQB had a net margin of 39.67% and a return on equity of 14.70%. On average, sell-side analysts anticipate that EQB Inc. will post 12.5963415 earnings per share for the current fiscal year.

EQB Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 30th were paid a $0.47 dividend. This is a positive change from EQB’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Friday, September 13th. EQB’s dividend payout ratio is currently 20.19%.

EQB Company Profile

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.