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

Key Points

• EQB Inc. has received a consensus recommendation of "Hold" from ten analysts, with eight suggesting a hold and two a buy.
• The average 1-year target price set by brokerages for EQB is C$102.40, reflecting recent price downgrades from various analysts.
• EQB has increased its quarterly dividend to $0.55 per share, marking a positive change from the previous $0.53, with a dividend yield of 2.4%.

EQB Inc. (TSE:EQB - Get Free Report) has been given a consensus recommendation of "Hold" by the ten analysts that are currently covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is C$102.40.

EQB has been the topic of several recent analyst reports. BMO Capital Markets lowered their target price on shares of EQB from C$111.00 to C$100.00 in a research report on Friday, August 29th. National Bankshares lowered their target price on shares of EQB from C$104.00 to C$89.00 and set a "sector perform" rating on the stock in a research report on Thursday, August 28th. Scotiabank lowered their target price on shares of EQB from C$103.00 to C$94.00 and set a "sector perform" rating on the stock in a research report on Friday, August 29th. Royal Bank Of Canada lowered their price target on shares of EQB from C$124.00 to C$112.00 and set an "outperform" rating on the stock in a research report on Friday, August 29th. Finally, Raymond James Financial cut shares of EQB from a "moderate buy" rating to a "hold" rating and dropped their price objective for the stock from C$108.00 to C$93.00 in a research note on Thursday, August 28th.

EQB Trading Down 1.1%

Shares of EQB opened at C$92.99 on Friday. The firm's 50-day moving average is C$98.02 and its two-hundred day moving average is C$96.31. EQB has a twelve month low of C$85.14 and a twelve month high of C$114.22. The firm has a market capitalization of C$3.57 billion, a P/E ratio of 10.54, a PEG ratio of 0.34 and a beta of 1.27.

EQB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.55 per share. This is a positive change from EQB's previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.4%. EQB's dividend payout ratio is 22.68%.

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.

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