EQB (TSE:EQB) Lowered to "Hold" Rating by BMO Capital Markets

Key Points

• BMO Capital Markets has downgraded EQB from an "outperform" rating to a "market perform" rating, lowering the target price from C$115.00 to C$111.00.
• In recent reports, both CIBC and Jefferies Financial Group also reduced their target prices for EQB, indicating a concerning trend among financial analysts.
• Despite the downgrade, EQB maintains an average rating of "Moderate Buy" with a potential upside of 10.09% from its current price.

EQB (TSE:EQB - Get Free Report) was downgraded by equities research analysts at BMO Capital Markets from an "outperform" rating to a "hold" rating in a note issued to investors on Tuesday, August 12th, Marketbeat Ratings reports. They presently have a C$111.00 target price on the stock, down from their prior target price of C$115.00. BMO Capital Markets' target price would suggest a potential upside of 10.01% from the stock's previous close.

Other analysts have also recently issued research reports about the stock. CIBC cut their price target on shares of EQB from C$130.00 to C$126.00 in a research note on Thursday, May 22nd. Jefferies Financial Group cut their target price on shares of EQB from C$126.00 to C$107.00 in a research note on Monday, April 21st. Finally, National Bankshares dropped their price objective on 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. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of C$117.70.

EQB Trading Up 0.3%

Shares of TSE EQB traded up C$0.29 during mid-day trading on Tuesday, hitting C$100.90. The company had a trading volume of 18,621 shares, compared to its average volume of 84,917. The firm has a 50-day simple moving average of C$100.26 and a two-hundred day simple moving average of C$98.04. The company has a market capitalization of C$3.90 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59. EQB has a one year low of C$85.14 and a one year high of C$114.22.

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.