BMO Capital Markets Forecasts Strong Price Appreciation for EQB (TSE:EQB) Stock

EQB (TSE:EQB) had its price target increased by BMO Capital Markets from C$106.00 to C$119.00 in a research note published on Monday morning,BayStreet.CA reports.

A number of other analysts also recently weighed in on the stock. Scotiabank cut their price target on shares of EQB from C$113.00 to C$109.00 in a research report on Monday, August 19th. CIBC increased their price target on shares of EQB from C$105.00 to C$113.00 in a research report on Friday, September 6th. Raymond James cut their price target on shares of EQB from C$110.00 to C$106.00 in a research report on Wednesday, August 21st. Cormark dropped 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 report on Thursday, August 29th. Finally, TD Securities dropped 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 report on Friday, August 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$108.00.

EQB Stock Performance

EQB opened at C$108.45 on Monday. The firm’s 50-day simple moving average is C$105.43 and its 200-day simple moving average is C$96.67. EQB has a twelve month low of C$71.90 and a twelve month high of C$109.80. The firm has a market cap of C$4.16 billion, a price-to-earnings ratio of 11.39, 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 (EPS) for the quarter, beating the consensus estimate of C$2.93 by C$0.03. The company had revenue of C$327.24 million for 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%. As a group, sell-side analysts anticipate that EQB will post 12.5988235 EPS for the current fiscal year.

EQB Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 30th were given a $0.47 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.88 annualized dividend and a yield of 1.73%. This is an increase from EQB’s previous quarterly dividend of $0.45. EQB’s payout ratio is presently 19.75%.

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.