EQB (TSE:EQB) Stock Rating Lowered by Raymond James Financial

Key Points

• Raymond James downgraded EQB from “market perform” to “underperform” and cut its price target from C$136 to C$120, implying about 3.78% downside from the reported price.
• EQB shares fell C$4.07 to C$124.72, below their 50-day moving average of C$136.99 but above their 200-day average of C$123.60. Analysts overall maintain a “Hold” consensus, with an average target of C$138.30.
• The company reported quarterly earnings of C$2.12 per share and revenue of C$393.04 million. Insiders own about 29.02% of EQB, with recent transactions including both insider purchases and sales.

EQB (TSE:EQB - Get Free Report) was downgraded by equities research analysts at Raymond James Financial from a "market perform" rating to an "underperform" rating in a research note issued on Friday,BayStreet.CA reports. They presently have a C$120.00 target price on the stock, down from their prior target price of C$136.00. Raymond James Financial's price target points to a potential downside of 3.78% from the company's current price.

EQB has been the subject of several other reports. TD lifted their price objective on EQB from C$123.00 to C$154.00 and gave the company a "buy" rating in a report on Friday, August 14th. Royal Bank Of Canada lifted their price target on shares of EQB from C$131.00 to C$146.00 and gave the stock an "outperform" rating in a report on Friday. Canadian Imperial Bank of Commerce dropped their price target on EQB from C$165.00 to C$154.00 and set an "outperformer" rating on the stock in a research note on Friday. Jefferies Financial Group raised their target price on EQB from C$122.00 to C$129.00 and gave the stock a "hold" rating in a research note on Thursday, August 13th. Finally, Scotiabank lifted their price objective on shares of EQB from C$122.00 to C$125.00 and gave the company a "sector perform" rating in a research note on Monday, June 1st. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, EQB has an average rating of "Hold" and an average target price of C$138.30.

EQB Stock Performance

TSE EQB traded down C$4.07 on Friday, reaching C$124.72. 158,542 shares of the stock traded hands, compared to its average volume of 120,470. The company has a fifty day moving average price of C$136.99 and a 200-day moving average price of C$123.60. The company has a market cap of C$4.42 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 0.34 and a beta of 0.92. EQB has a 12 month low of C$83.93 and a 12 month high of C$150.32.

EQB (TSE:EQB - Get Free Report) last issued its earnings results on Wednesday, August 26th. The company reported C$2.12 earnings per share for the quarter. EQB had a return on equity of 6.16% and a net margin of 6.61%.The business had revenue of C$393.04 million during the quarter. As a group, research analysts anticipate that EQB will post 12.5988235 earnings per share for the current fiscal year.

Insider Transactions at EQB

In other news, Director Darren Lorimer sold 750 shares of the firm's stock in a transaction that occurred on Thursday, July 16th. The stock was sold at an average price of C$149.24, for a total value of C$111,930.00. Following the transaction, the director owned 6,988 shares in the company, valued at C$1,042,889.12. This trade represents a 9.69% decrease in their ownership of the stock. Also, insider Gavin Stanley sold 900 shares of EQB stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of C$137.37, for a total transaction of C$123,633.00. Following the sale, the insider directly owned 2,238 shares in the company, valued at approximately C$307,434.06. This trade represents a 28.68% decrease in their position. Over the last 90 days, insiders purchased 46,100 shares of company stock valued at $6,479,348 and sold 7,484 shares valued at $1,069,719. Corporate insiders own 29.02% of the company's stock.

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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