BMO Capital Markets Issues Positive Forecast for EQB (TSE:EQB) Stock Price

EQB (TSE:EQB) had its price objective lifted by BMO Capital Markets from C$106.00 to C$119.00 in a report issued on Monday morning,BayStreet.CA reports.

A number of other research firms also recently issued reports on EQB. Cormark decreased their price target on shares of EQB from C$121.00 to C$111.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. TD Securities decreased their target price 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. Scotiabank dropped their price target on EQB from C$113.00 to C$109.00 in a research report on Monday, August 19th. Raymond James decreased their price objective on EQB from C$110.00 to C$106.00 in a research report on Wednesday, August 21st. Finally, CIBC lifted their target price on EQB from C$105.00 to C$113.00 in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$108.00.

EQB Price Performance

Shares of EQB stock opened at C$109.40 on Monday. The company’s fifty day moving average price is C$105.43 and its 200-day moving average price is C$96.67. EQB has a one year low of C$71.90 and a one year high of C$109.80. The company has a market capitalization of C$4.20 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 0.34 and a beta of 1.59.

EQB (TSE:EQB) last issued its earnings results on Wednesday, August 28th. The company reported C$2.96 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.93 by C$0.03. The firm had revenue of C$327.24 million during the quarter, compared to analyst estimates of C$325.00 million. EQB had a net margin of 39.67% and a return on equity of 14.70%. Equities research analysts expect that EQB will post 12.5988235 earnings per share for the current fiscal year.

EQB Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders 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 1.72%. The ex-dividend date of this dividend was Friday, September 13th. EQB’s dividend payout ratio (DPR) is currently 19.75%.

About EQB

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.