EQB (TSE:EQB) Hits New 12-Month High – Here’s Why

EQB Inc. (TSE:EQB) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$107.97 and last traded at C$107.97, with a volume of 13062 shares traded. The stock had previously closed at C$107.09.

Analyst Upgrades and Downgrades

EQB has been the topic of a number of recent analyst reports. Raymond James cut their target price on EQB from C$110.00 to C$106.00 in a research report on Wednesday, August 21st. Cormark decreased their target price on shares of EQB from C$121.00 to C$111.00 and set a “buy” rating for the company in a report on Thursday, August 29th. CIBC boosted their price target on shares of EQB from C$105.00 to C$113.00 in a report on Friday, September 6th. Scotiabank decreased their price objective on shares of EQB from C$113.00 to C$109.00 in a research note on Monday, August 19th. Finally, BMO Capital Markets boosted their target price on shares of EQB from C$104.00 to C$106.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$106.56.

EQB Stock Up 0.2 %

The business has a 50-day moving average of C$99.92 and a 200-day moving average of C$93.01. The stock has a market cap of C$4.16 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 0.34 and a beta of 1.59.

EQB (TSE:EQB) last posted its quarterly earnings results on Wednesday, August 28th. The company reported C$2.96 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.93 by C$0.03. The company had revenue of C$327.24 million during the quarter, compared to the consensus estimate of C$325.00 million. EQB had a return on equity of 14.70% and a net margin of 39.67%. Equities analysts anticipate that EQB Inc. will post 12.5988235 earnings per share for the current year.

EQB Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 30th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 1.74%. This is an increase from EQB’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, September 13th. EQB’s payout ratio is currently 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.