EQB Inc. (TSE:EQB) Plans Dividend Increase – $0.51 Per Share

EQB Inc. (TSE:EQB) declared a quarterly dividend on Friday, March 14th, TickerTech Dividends reports. Investors of record on Monday, March 31st will be paid a dividend of 0.51 per share on Monday, March 31st. This represents a $2.04 annualized dividend and a yield of 2.14%. The ex-dividend date is Friday, March 14th. This is a 4.1% increase from EQB’s previous quarterly dividend of $0.49.

EQB Price Performance

Shares of EQB stock traded up C$0.89 during trading hours on Wednesday, hitting C$95.52. 21,189 shares of the company’s stock were exchanged, compared to its average volume of 70,171. The stock has a market cap of C$3.70 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59. EQB has a 52 week low of C$78.24 and a 52 week high of C$114.22. The stock’s 50-day moving average is C$105.22 and its 200-day moving average is C$104.07.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EQB. CIBC raised their price target on shares of EQB from C$113.00 to C$130.00 in a report on Tuesday, November 26th. Jefferies Financial Group set a C$129.00 price target on EQB and gave the company a “buy” rating in a research note on Thursday, January 30th. Royal Bank of Canada dropped their price target on EQB from C$153.00 to C$147.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Desjardins dropped their target price on EQB from C$130.00 to C$126.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Cormark cut EQB from a “buy” rating to a “market perform” rating and decreased their price objective for the company from C$131.00 to C$110.00 in a report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$122.80.

About EQB

EQB Inc formerly Equitable Group Inc trades on the Toronto Stock Exchange TSX: EQB and EQB.PR.C and serves over 360000 Canadians through its wholly owned subsidiary Equitable Bank Canadas Challenger Bank. Equitable Bank has grown to become the countrys eighth largest independent Schedule I bank with a clear mandate to drive real change in Canadian banking to enrich peoples lives.