EQB Inc. (TSE:EQB) Given Average Rating of "Hold" by Brokerages

Key Points

• Analyst consensus is “Hold”: Of 11 analysts, six rate EQB a buy, four recommend holding, and one rates it a sell. The average 12-month price target is C$139.10.
• EQB shares opened at C$128.51, compared with a 52-week range of C$83.93 to C$150.32. The company reported quarterly EPS of C$2.12 and revenue of C$393.04 million.
• EQB increased its quarterly dividend to $0.63 per share from $0.61, representing an annualized payout of $2.52 and a 2.0% yield. Insiders have been net buyers over the past 90 days, while insiders own 29.02% of the company.

Shares of EQB Inc. (TSE:EQB - Get Free Report) have received an average recommendation of "Hold" from the eleven analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is C$139.10.

Several brokerages have recently commented on EQB. Canadian Imperial Bank of Commerce lowered their target price on shares of EQB from C$165.00 to C$154.00 and set an "outperformer" rating on the stock in a report on Friday, August 28th. Royal Bank Of Canada raised their price objective on EQB from C$131.00 to C$146.00 and gave the stock an "outperform" rating in a research note on Friday, August 28th. Jefferies Financial Group dropped their price objective on EQB from C$128.00 to C$127.00 in a report on Thursday, September 3rd. TD upped their target price on EQB from C$123.00 to C$154.00 and gave the company a "buy" rating in a research report on Friday, August 14th. Finally, Desjardins reduced their price objective on shares of EQB from C$155.00 to C$150.00 and set a "buy" rating on the stock in a research note on Friday, August 28th.

EQB Stock Performance

Shares of EQB stock opened at C$128.51 on Friday. The firm has a 50-day moving average of C$136.93 and a 200-day moving average of C$124.40. The stock has a market cap of C$5.47 billion, a PE ratio of -458.96, a PEG ratio of 0.34 and a beta of 0.83. EQB has a 52-week low of C$83.93 and a 52-week high of C$150.32.

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 net margin of 0.08% and a negative return on equity of 0.07%. The business had revenue of C$393.04 million for the quarter. Equities research analysts predict that EQB will post 12.5988235 earnings per share for the current fiscal year.

EQB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th will be paid a dividend of $0.63 per share. The ex-dividend date is Tuesday, September 15th. This is a boost from EQB's previous quarterly dividend of $0.61. This represents a $2.52 annualized dividend and a yield of 2.0%. EQB's dividend payout ratio is currently -828.57%.

Insider Buying and Selling at EQB

In other EQB news, insider Loblaw Companies Limited acquired 8,000 shares of EQB stock in a transaction that occurred on Thursday, September 3rd. The shares were acquired at an average cost of C$133.12 per share, with a total value of C$1,064,960.00. Following the completion of the purchase, the insider directly owned 1,556,100 shares of the company's stock, valued at C$207,148,032. This represents a 0.52% increase in their position. Over the last 90 days, insiders acquired 118,100 shares of company stock valued at $15,780,308 and sold 7,484 shares valued at $1,069,719. Corporate insiders own 29.02% of the company's stock.

About EQB

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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