EQB (TSE:EQB) Reaches New 52-Week High After Analyst Upgrade

EQB Inc. (TSE:EQB)’s share price hit a new 52-week high during trading on Monday after Scotiabank raised their price target on the stock from C$109.00 to C$135.00. The stock traded as high as C$111.59 and last traded at C$111.50, with a volume of 10371 shares trading hands. The stock had previously closed at C$110.35.

A number of other research analysts also recently commented on EQB. TD Securities cut 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. BMO Capital Markets lifted their price objective on shares of EQB from C$106.00 to C$119.00 in a report on Monday, November 18th. Raymond James reduced their price objective on shares of EQB from C$110.00 to C$106.00 in a research note on Wednesday, August 21st. CIBC increased their target price on EQB from C$105.00 to C$113.00 in a research report on Friday, September 6th. Finally, Cormark reduced their price target on 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, EQB presently has an average rating of “Moderate Buy” and an average target price of C$112.13.

EQB Stock Up 0.2 %

The firm has a market cap of C$4.24 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59. The stock has a 50 day moving average price of C$105.90 and a two-hundred day moving average price of C$97.06.

EQB (TSE:EQB) last released its earnings results on Wednesday, August 28th. The company reported C$2.96 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of C$327.24 million for the quarter, compared to the consensus estimate of C$325.00 million. As a group, equities analysts anticipate that EQB Inc. will post 12.5988235 earnings per share 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 given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 1.70%. This is an increase from EQB’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, September 13th. EQB’s dividend 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.