EQB Inc. (TSE:EQB) Receives C$119.60 Average Target Price from Analysts

Key Points

• EQB Inc. has received an average rating of "Moderate Buy" from ten analysts, with three holding and seven recommending buy ratings on the stock.
• The average 1-year target price for EQB is set at C$119.60, despite some brokerages recently lowering their price targets.
• EQB has increased its quarterly dividend from $0.51 to $0.53 per share, reflecting a dividend yield of 2.0%.

EQB Inc. (TSE:EQB - Get Free Report) has received an average rating of "Moderate Buy" from the ten analysts that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is C$119.60.

A number of equities research analysts have recently commented on the stock. National Bankshares dropped their price objective on shares of EQB from C$117.00 to C$111.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 22nd. CIBC dropped their price objective on shares of EQB from C$130.00 to C$126.00 in a research note on Thursday, May 22nd. Finally, Jefferies Financial Group dropped their price objective on shares of EQB from C$126.00 to C$107.00 in a research note on Monday, April 21st.

EQB Price Performance

Shares of EQB stock traded down C$0.28 during mid-day trading on Thursday, hitting C$101.63. 49,156 shares of the stock traded hands, compared to its average volume of 85,288. EQB has a 52-week low of C$85.14 and a 52-week high of C$114.22. The stock has a market cap of C$3.93 billion, a P/E ratio of 15.84, a P/E/G ratio of 0.34 and a beta of 1.59. The stock's fifty day moving average is C$99.12 and its two-hundred day moving average is C$98.61.

EQB Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 30th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, June 13th. This is a positive change from EQB's previous quarterly dividend of $0.51. EQB's dividend payout ratio is 29.31%.

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.