EQB Inc. (TSE:EQB) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts have an average “Hold” rating on EQB, with six buys, four holds and one sell among 11 brokerages. The average 12-month price target is C$139.10.
• Insiders have been net buyers, acquiring 222,300 shares worth approximately C$29.0 million over the past 90 days; insiders own 29.02% of the company.
• EQB increased its quarterly dividend to $0.63 per share, equivalent to an annualized $2.52 payout and a 2.0% yield.

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

EQB has been the subject of several research reports. Jefferies Financial Group dropped their price objective on shares of EQB from C$128.00 to C$127.00 in a report on Thursday, September 3rd. TD boosted their target price on EQB from C$123.00 to C$154.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. Raymond James Financial downgraded EQB from a "hold" rating to a "strong sell" rating and decreased their target price for the stock from C$136.00 to C$120.00 in a research report on Friday, August 28th. Canadian Imperial Bank of Commerce cut their price target on EQB from C$165.00 to C$154.00 and set an "outperformer" rating for the company in a report on Friday, August 28th. Finally, Royal Bank Of Canada lifted 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.

Insider Buying and Selling at EQB

In other EQB news, insider Loblaw Companies Limited purchased 16,000 shares of EQB stock in a transaction that occurred on Thursday, August 27th. The shares were bought at an average price of C$124.91 per share, for a total transaction of C$1,998,560.00. Following the completion of the transaction, the insider owned 1,474,100 shares of the company's stock, valued at approximately C$184,129,831. This trade represents a 1.10% increase in their position. Over the last ninety days, insiders have acquired 222,300 shares of company stock valued at $29,036,222 and have sold 2,900 shares valued at $432,253. Company insiders own 29.02% of the company's stock.

EQB Stock Performance

EQB stock opened at C$123.27 on Tuesday. The company's fifty day moving average price is C$132.33 and its 200-day moving average price is C$125.77. EQB has a one year low of C$83.93 and a one year high of C$150.32. The company has a market capitalization of C$5.25 billion, a PE ratio of -440.25, a price-to-earnings-growth ratio of 0.34 and a beta of 0.86.

EQB (TSE:EQB - Get Free Report) last posted its earnings results on Wednesday, August 26th. The company reported C$2.12 earnings per share for the quarter. The company had revenue of C$393.04 million during the quarter. EQB had a negative net margin of 0.08% and a negative return on equity of 0.07%. On average, research analysts predict that EQB will post 12.5988235 EPS for the current fiscal year.

EQB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th were given a dividend of $0.63 per share. The ex-dividend date was Tuesday, September 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from EQB's previous quarterly dividend of $0.61. EQB's dividend payout ratio is currently -828.57%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.