EQB (TSE:EQB) Given New C$145.00 Price Target at Desjardins

Key Points

• Desjardins lowered its EQB price target from C$150 to C$145 but maintained a Buy rating; the new target implies 13.75% upside from the prior close.
• Analyst sentiment is generally positive: EQB has a consensus “Moderate Buy” rating and an average target price of C$139, with six Buy and five Hold ratings.
• EQB shares rose 0.2% to C$127.47 on Wednesday. Insiders have bought 184,200 shares worth about C$23.6 million over the past 90 days.

EQB (TSE:EQB - Get Free Report) had its target price cut by equities research analysts at Desjardins from C$150.00 to C$145.00 in a report issued on Wednesday, BayStreet reports. The firm currently has a "buy" rating on the stock. Desjardins's price objective indicates a potential upside of 13.75% from the stock's previous close.

Several other research firms have also issued reports on EQB. TD increased their target price on EQB from C$123.00 to C$154.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. Scotiabank cut their price target on shares of EQB from C$141.00 to C$135.00 in a research note on Monday, August 31st. Royal Bank Of Canada raised their price target on shares of EQB from C$131.00 to C$146.00 and gave the company an "outperform" rating in a research report on Friday, August 28th. Canadian Imperial Bank of Commerce dropped their price target on shares of EQB from C$165.00 to C$154.00 and set an "outperformer" rating for the company in a research note on Friday, August 28th. Finally, Jefferies Financial Group reduced their price objective on EQB from C$128.00 to C$127.00 in a research note on Thursday, September 3rd. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, EQB has an average rating of "Moderate Buy" and a consensus target price of C$139.00.

EQB Stock Up 0.2%

TSE EQB traded up C$0.21 on Wednesday, reaching C$127.47. The stock had a trading volume of 9,662 shares, compared to its average volume of 120,864. The stock has a fifty day moving average price of C$123.89 and a two-hundred day moving average price of C$122.91. EQB has a 12-month low of C$83.93 and a 12-month high of C$150.32. The firm has a market capitalization of C$5.43 billion, a price-to-earnings ratio of -455.25, a P/E/G ratio of 0.34 and a beta of 0.71.

EQB (TSE:EQB - Get Free Report) last released its quarterly earnings results on Wednesday, August 26th. The company reported C$2.12 EPS for the quarter. EQB had a negative return on equity of 0.07% and a negative net margin of 0.08%. The business had revenue of C$393.04 million during the quarter. Sell-side analysts forecast that EQB will post 12.60 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Loblaw Companies Limited acquired 16,000 shares of the company's stock in a transaction on Tuesday, September 15th. The shares were bought at an average cost of C$126.95 per share, with a total value of C$2,031,200.00. Following the transaction, the insider owned 1,660,100 shares in the company, valued at approximately C$210,749,695. This trade represents a 0.97% increase in their position. In the last ninety days, insiders have purchased 184,200 shares of company stock worth $23,628,874. Insiders own 29.02% of the company's stock.

EQB Company Profile

EQB Inc. TSX: EQB is a leading Canadian financial services company with approximately $151 billion in combined assets under management and administration. It is the parent company of Equitable Bank, the country's seventh largest Schedule I bank by assets, which operates EQ Bank, Canada's Challenger Bank. Our purpose is to remake banking so every Canadian gets ahead, every day. Since 1970, we have built thoughtful financial solutions that serve more than 4 million customers, turning everyday moments into meaningful progress.

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