EQB (TSE:EQB) Reaches New 1-Year High – Here’s Why

Shares of EQB Inc. (TSE:EQB) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$105.69 and last traded at C$105.50, with a volume of 16549 shares changing hands. The stock had previously closed at C$104.46.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on EQB shares. TD Securities dropped their price objective on shares of EQB from C$112.00 to C$109.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. CIBC raised their price target on EQB from C$105.00 to C$113.00 in a research note on Friday, September 6th. Raymond James lowered their price objective on EQB from C$110.00 to C$106.00 in a research report on Wednesday, August 21st. BMO Capital Markets increased their price objective on EQB from C$104.00 to C$106.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Finally, Cormark decreased their target price on EQB from C$121.00 to C$111.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$106.56.

EQB Stock Up 1.1 %

The firm has a market capitalization of C$4.05 billion, a price-to-earnings ratio of 11.34, a P/E/G ratio of 0.34 and a beta of 1.58. The company has a fifty day moving average price of C$98.42 and a two-hundred day moving average price of C$92.11.

EQB (TSE:EQB) last posted its quarterly earnings data 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. EQB had a net margin of 39.67% and a return on equity of 14.70%. The company had revenue of C$327.24 million for the quarter, compared to analyst estimates of C$325.00 million. On average, equities analysts anticipate that EQB Inc. will post 12.5963415 earnings per share for the current fiscal year.

EQB Increases Dividend

The business also recently announced 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 an increase from EQB’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Friday, September 13th. EQB’s dividend payout ratio (DPR) is 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.