Brokerages Set EQB Inc. (TSE:EQB) Target Price at C$102.40

Key Points

• EQB Inc. has received an average recommendation of "Hold" from analysts, with eight firms issuing hold ratings and two firms issuing buy ratings.
• BMO Capital Markets and National Bankshares have significantly lowered their price targets for EQB, with new targets of C$100.00 and C$89.00, respectively.
• The company recently increased its quarterly dividend to $0.53 per share, representing a dividend yield of 2.3%, up from the previous quarter's $0.51.

Shares of EQB Inc. (TSE:EQB - Get Free Report) have received an average rating of "Hold" from the ten brokerages that are currently covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is C$102.40.

A number of equities analysts have commented on the company. BMO Capital Markets decreased their target price on EQB from C$111.00 to C$100.00 in a research note on Friday, August 29th. Royal Bank Of Canada decreased their target price on EQB from C$124.00 to C$112.00 and set an "outperform" rating for the company in a research note on Friday, August 29th. TD Securities cut their price target on EQB from C$110.00 to C$100.00 and set a "hold" rating on the stock in a report on Thursday, August 28th. National Bankshares cut their price target on EQB from C$104.00 to C$89.00 and set a "sector perform" rating on the stock in a report on Thursday, August 28th. Finally, Jefferies Financial Group cut EQB from a "buy" rating to a "hold" rating and cut their price target for the company from C$119.00 to C$107.00 in a report on Friday, August 29th.

EQB Stock Up 0.2%

EQB stock traded up C$0.17 during midday trading on Monday, reaching C$91.68. The company had a trading volume of 71,396 shares, compared to its average volume of 97,837. The stock has a 50 day moving average price of C$100.97 and a 200 day moving average price of C$97.33. EQB has a fifty-two week low of C$85.14 and a fifty-two week high of C$114.22. The firm has a market capitalization of C$3.51 billion, a PE ratio of 10.39, a P/E/G ratio of 0.34 and a beta of 1.42.

EQB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 30th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.4%. This is a positive change from EQB's previous quarterly dividend of $0.53. The ex-dividend date is Monday, September 15th. EQB's dividend payout ratio (DPR) is presently 22.68%.

EQB Company Profile

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.