EQB (TSE:EQB) Hits New 52-Week High Following Dividend Announcement

EQB Inc. (TSE:EQB)’s stock price reached a new 52-week high during trading on Monday after the company announced a dividend. The stock traded as high as C$99.50 and last traded at C$99.59, with a volume of 16690 shares trading hands. The stock had previously closed at C$98.62.

The newly announced dividend which will be paid on Monday, September 30th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Friday, September 13th. This is a positive change from EQB’s previous quarterly dividend of $0.45. EQB’s payout ratio is currently 20.19%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. CIBC boosted their target price on EQB from C$105.00 to C$113.00 in a research report on Friday, September 6th. Raymond James lowered their target price on shares of EQB from C$110.00 to C$106.00 in a research note on Wednesday, August 21st. TD Securities reduced their price target 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. Cormark lowered their price objective 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. Finally, BMO Capital Markets lifted their target price on EQB from C$104.00 to C$106.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. One investment 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$106.56.

EQB Stock Performance

The stock has a 50-day moving average of C$96.05 and a 200-day moving average of C$89.80. The firm has a market cap of C$3.80 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 0.34 and a beta of 1.58.

EQB (TSE:EQB) last announced its quarterly earnings data on Wednesday, August 28th. The company reported C$2.96 EPS for the quarter, topping 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 business had revenue of C$327.24 million for the quarter, compared to analyst estimates of C$325.00 million. Sell-side analysts predict that EQB Inc. will post 12.6726343 EPS for the current fiscal year.

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.