EQB (TSE:EQB) Hits New 12-Month High on Analyst Upgrade

EQB Inc. (TSE:EQB)’s share price reached a new 52-week high during mid-day trading on Monday after CIBC raised their price target on the stock from C$113.00 to C$130.00. The stock traded as high as C$111.59 and last traded at C$111.50, with a volume of 10371 shares changing hands. The stock had previously closed at C$110.35.

EQB has been the topic of several other research reports. Cormark reduced their target price 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. Raymond James lowered their target price on shares of EQB from C$110.00 to C$106.00 in a report on Wednesday, August 21st. Scotiabank increased their price target on EQB from C$109.00 to C$135.00 in a research note on Monday. BMO Capital Markets lifted their price objective on EQB from C$106.00 to C$119.00 in a research note on Monday, November 18th. Finally, TD Securities dropped their price objective on EQB from C$112.00 to C$109.00 and set a “buy” rating for the company in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, EQB currently has a consensus rating of “Moderate Buy” and an average target price of C$114.25.

EQB Price Performance

The stock has a market capitalization of C$4.27 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 0.34 and a beta of 1.59. The business has a 50 day simple moving average of C$106.13 and a 200-day simple moving average of C$97.25.

EQB (TSE:EQB) last posted 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 during the quarter, compared to analysts’ expectations of C$325.00 million. As a group, equities analysts predict that EQB Inc. will post 12.5988235 earnings per share for the current year.

EQB Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 30th were given a dividend of $0.47 per share. This is an increase from EQB’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, September 13th. This represents a $1.88 annualized dividend and a dividend yield of 1.69%. EQB’s dividend payout ratio 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.