Scotiabank Boosts EQB (TSE:EQB) Price Target to C$135.00

EQB (TSE:EQB) had its price target hoisted by Scotiabank from C$109.00 to C$135.00 in a report issued on Monday morning,BayStreet.CA reports.

A number of other equities research analysts also recently weighed in on EQB. BMO Capital Markets raised their price target on EQB from C$106.00 to C$119.00 in a research note on Monday, November 18th. Raymond James decreased their price target on shares of EQB from C$110.00 to C$106.00 in a report on Wednesday, August 21st. Cormark lowered their price objective 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 lowered their price target on EQB from C$112.00 to C$109.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Finally, CIBC increased their price objective on shares of EQB from C$105.00 to C$113.00 in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, EQB currently has a consensus rating of “Moderate Buy” and an average price target of C$112.13.

EQB Trading Up 0.2 %

Shares of TSE:EQB opened at C$110.57 on Monday. The company has a 50 day moving average of C$105.90 and a 200-day moving average of C$97.06. The firm has a market cap of C$4.24 billion, a P/E ratio of 11.61, a P/E/G ratio of 0.34 and a beta of 1.59. EQB has a twelve month low of C$74.00 and a twelve month high of C$111.59.

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

EQB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 30th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.70%. This is an increase from EQB’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, September 13th. EQB’s payout ratio is presently 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.