EQB (TSE:EQB) Price Target Cut to C$154.00 by Analysts at Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce cut EQB’s price target from C$165 to C$154 while maintaining an “outperformer” rating, implying 23.48% upside from the prior close.
• Analyst sentiment is mixed: six analysts rate EQB a Buy, four a Hold, and one a Sell, resulting in a consensus “Hold” rating and average target of C$138.30.
• EQB shares fell C$4.07 to C$124.72; the company recently reported quarterly EPS of C$2.12 on revenue of C$393.04 million, while insiders have been net buyers over the past quarter.

EQB (TSE:EQB - Get Free Report) had its price objective reduced by research analysts at Canadian Imperial Bank of Commerce from C$165.00 to C$154.00 in a research note issued on Friday,BayStreet.CA reports. The firm presently has an "outperformer" rating on the stock. Canadian Imperial Bank of Commerce's price target would suggest a potential upside of 23.48% from the stock's previous close.

Several other equities analysts have also commented on EQB. Raymond James Financial increased their price objective on shares of EQB from C$123.00 to C$136.00 and gave the company a "sector perform" rating in a research report on Thursday, August 13th. Scotiabank boosted their target price on shares of EQB from C$122.00 to C$125.00 and gave the stock a "sector perform" rating in a research report on Monday, June 1st. Jefferies Financial Group upped their price target on shares of EQB from C$122.00 to C$129.00 and gave the company a "hold" rating in a research note on Thursday, August 13th. National Bank Financial raised their price target on shares of EQB from C$120.00 to C$143.00 and gave the stock a "sector perform" rating in a report on Thursday, August 13th. Finally, Desjardins lifted their price objective on shares of EQB from C$132.00 to C$155.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of C$138.30.

EQB Stock Performance

EQB stock traded down C$4.07 on Friday, hitting C$124.72. 158,542 shares of the company's stock were exchanged, compared to its average volume of 120,470. The firm has a 50 day moving average price of C$136.99 and a two-hundred day moving average price of C$123.60. EQB has a 12-month low of C$83.93 and a 12-month high of C$150.32. The stock has a market cap of C$4.42 billion, a P/E ratio of 24.50, a price-to-earnings-growth ratio of 0.34 and a beta of 0.92.

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. The company had revenue of C$393.04 million during the quarter. EQB had a return on equity of 6.16% and a net margin of 6.61%. Sell-side analysts expect that EQB will post 12.5988235 earnings per share for the current fiscal year.

Insider Activity at EQB

In other EQB news, insider Loblaw Companies Limited purchased 8,000 shares of EQB stock in a transaction on Thursday, August 20th. The stock was bought at an average cost of C$134.00 per share, with a total value of C$1,072,000.00. Following the transaction, the insider owned 1,426,100 shares of the company's stock, valued at C$191,097,400. This represents a 0.56% increase in their position. Also, insider Gavin Stanley sold 900 shares of EQB stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of C$137.37, for a total transaction of C$123,633.00. Following the sale, the insider owned 2,238 shares of the company's stock, valued at approximately C$307,434.06. The trade was a 28.68% decrease in their ownership of the stock. Over the last quarter, insiders have bought 46,100 shares of company stock worth $6,479,348 and have sold 7,484 shares worth $1,069,719. 29.02% of the stock is owned by insiders.

EQB Company Profile

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. At Equitable Bank we are as invested in our employees as we are in our business. Thats why we are consistently recognized as one of Canadas Top Employers a rating that comes from our 1300+ employees.

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