Royal Bank Of Canada Increases EQB (TSE:EQB) Price Target to C$146.00

Key Points

• Royal Bank of Canada raised EQB’s price target from C$131 to C$146 and maintained an “outperform” rating, implying 17.06% upside from the prior close.
• Analyst sentiment remains mixed: six analysts rate EQB a Buy, four a Hold and one a Sell, with a consensus rating of “Hold” and an average target of C$138.30.
• EQB shares fell 3.2% to C$124.72 in Friday trading. 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 90 days.

EQB (TSE:EQB - Get Free Report) had its target price increased by equities researchers at Royal Bank Of Canada from C$131.00 to C$146.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's target price would indicate a potential upside of 17.06% from the company's previous close.

Several other research firms also recently commented on EQB. TD increased their target price on shares of EQB from C$123.00 to C$154.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. Scotiabank upped their price target on EQB from C$122.00 to C$125.00 and gave the stock a "sector perform" rating in a research note on Monday, June 1st. Canadian Imperial Bank of Commerce lowered their price objective on EQB from C$165.00 to C$154.00 and set an "outperformer" rating on the stock in a report on Friday. Raymond James Financial raised their price objective on EQB from C$123.00 to C$136.00 and gave the company a "sector perform" rating in a research note on Thursday, August 13th. Finally, Desjardins reduced their target price on EQB from C$155.00 to C$150.00 and set a "buy" rating for the company in a report on Friday. Six 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's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of C$138.30.

EQB Trading Down 3.2%

TSE EQB traded down C$4.07 during trading on Friday, reaching C$124.72. The company's stock had a trading volume of 158,542 shares, compared to its average volume of 120,470. The stock has a market capitalization of C$4.42 billion, a PE ratio of 24.50, a PEG ratio of 0.34 and a beta of 0.92. The business has a 50-day moving average price of C$136.99 and a 200-day moving average price of C$123.60. 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 announced 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 for the quarter. EQB had a net margin of 6.61% and a return on equity of 6.16%. As a group, analysts expect that EQB will post 12.5988235 earnings per share for the current year.

Insider Buying and Selling at EQB

In other EQB news, insider Loblaw Companies Limited acquired 8,000 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The stock was acquired at an average price 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 approximately C$191,097,400. This trade represents a 0.56% increase in their ownership of the stock. Also, Director Darren Lorimer sold 750 shares of the stock in a transaction that occurred on Thursday, July 16th. The shares were sold at an average price of C$149.24, for a total value of C$111,930.00. Following the sale, the director owned 6,988 shares of the company's stock, valued at approximately C$1,042,889.12. The trade was a 9.69% decrease in their position. Over the last ninety days, insiders bought 46,100 shares of company stock worth $6,479,348 and sold 7,484 shares worth $1,069,719. Corporate insiders own 29.02% of the company's stock.

About EQB

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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