EQB (TSE:EQB) Upgraded to "Market Perform" at Raymond James Financial

Key Points

• Raymond James upgraded EQB from “underperform” to “market perform” and raised its price target from C$120 to C$124, implying approximately 1.46% upside.
• Analyst sentiment remains broadly positive, with six Buy ratings and five Holds; MarketBeat reports a “Moderate Buy” consensus and an average target price of C$139.50.
• EQB shares rose 0.3% to C$122.22, while insiders purchased 192,200 shares during the last quarter, increasing insider ownership to 29.02%.

EQB (TSE:EQB - Get Free Report) was upgraded by equities research analysts at Raymond James Financial from an "underperform" rating to a "market perform" rating in a research report issued on Tuesday, BayStreet reports. The firm currently has a C$124.00 target price on the stock, up from their prior target price of C$120.00. Raymond James Financial's price target suggests a potential upside of 1.46% from the company's current price.

Several other equities research analysts have also commented on the stock. TD boosted their price objective on shares of EQB from C$123.00 to C$154.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. National Bank Financial raised their target price on shares of EQB from C$120.00 to C$143.00 and gave the company a "sector perform" rating in a research note on Thursday, August 13th. Jefferies Financial Group lowered their target price on shares of EQB from C$128.00 to C$127.00 in a report on Thursday, September 3rd. Desjardins dropped their price target on EQB from C$155.00 to C$150.00 and set a "buy" rating on the stock in a research report on Friday, August 28th. Finally, Scotiabank dropped their price target on EQB from C$141.00 to C$135.00 in a research report on Monday, August 31st. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, EQB presently has an average rating of "Moderate Buy" and an average target price of C$139.50.

EQB Trading Up 0.3%

EQB stock traded up C$0.31 on Tuesday, hitting C$122.22. 48,124 shares of the stock traded hands, compared to its average volume of 120,973. The firm has a market cap of C$5.20 billion, a P/E ratio of -436.50, a price-to-earnings-growth ratio of 0.34 and a beta of 0.86. The business's fifty day simple moving average is C$124.57 and its 200 day simple moving average is C$122.29. EQB has a 1 year low of C$83.93 and a 1 year high of C$150.32.

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

Insider Transactions at EQB

In other news, insider Loblaw Companies Limited acquired 16,000 shares of the business's stock in a transaction that occurred on Thursday, September 17th. The shares were bought at an average cost of C$126.90 per share, with a total value of C$2,030,400.00. Following the transaction, the insider owned 1,692,100 shares of the company's stock, valued at C$214,727,490. This trade represents a 0.95% increase in their position. In the last quarter, insiders have bought 192,200 shares of company stock valued at $24,729,834. 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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