EQB (TSE:EQB) Price Target Raised to C$155.00

Key Points

• Desjardins raised EQB’s price target to C$155 from C$132 and maintained a “buy” rating, implying 12.33% potential upside.
• EQB shares fell 1.3% to C$137.99 during Wednesday trading, while the broader analyst consensus remained “Hold” with an average target of C$124.80.
• The company reported quarterly EPS of C$2.03 on revenue of C$302.36 million. Insider activity was net positive over the past 90 days, with purchases exceeding sales.

EQB (TSE:EQB - Get Free Report) had its target price increased by equities researchers at Desjardins from C$132.00 to C$155.00 in a report released on Wednesday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Desjardins' price objective suggests a potential upside of 12.33% from the company's current price.

A number of other research analysts have also recently commented on the company. TD cut their target price on EQB from C$132.00 to C$123.00 and set a "buy" rating on the stock in a research note on Thursday, May 28th. Raymond James Financial dropped their price objective on EQB from C$127.00 to C$123.00 and set a "market perform" rating for the company in a report on Friday, May 29th. Scotiabank upped their price objective on EQB from C$122.00 to C$125.00 and gave the company a "sector perform" rating in a research report on Monday, June 1st. National Bank Financial set a C$120.00 target price on EQB and gave the stock a "sector perform" rating in a research report on Friday, May 15th. Finally, Jefferies Financial Group boosted their target price on shares of EQB from C$110.00 to C$112.00 in a research note on Wednesday, May 20th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of C$124.80.

EQB Stock Down 1.3%

TSE:EQB traded down C$1.79 during mid-day trading on Wednesday, hitting C$137.99. 36,047 shares of the stock traded hands, compared to its average volume of 119,359. The stock has a market capitalization of C$4.89 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 0.34 and a beta of 0.93. EQB has a 52 week low of C$83.93 and a 52 week high of C$150.32. The firm's 50 day moving average is C$130.66 and its two-hundred day moving average is C$120.05.

EQB (TSE:EQB - Get Free Report) last posted its quarterly earnings data on Wednesday, May 27th. The company reported C$2.03 earnings per share for the quarter. The company had revenue of C$302.36 million for the quarter. EQB had a net margin of 6.61% and a return on equity of 6.16%. As a group, research analysts predict that EQB will post 12.5988235 EPS for the current year.

Insider Buying and Selling at EQB

In other news, insider David Wilkes sold 400 shares of the firm's stock in a transaction on Friday, July 3rd. The stock was sold at an average price of C$139.07, for a total transaction of C$55,628.00. Following the transaction, the insider owned 1,207 shares in the company, valued at approximately C$167,857.49. This trade represents a 24.89% decrease in their ownership of the stock. Also, insider Loblaw Companies Limited purchased 8,000 shares of the business's stock in a transaction dated Monday, July 20th. The shares were purchased at an average price of C$141.57 per share, for a total transaction of C$1,132,560.00. Following the purchase, the insider owned 1,250,100 shares of the company's stock, valued at approximately C$176,976,657. This trade represents a 0.64% increase in their position. In the last ninety days, insiders have purchased 22,100 shares of company stock worth $3,167,188 and have sold 7,484 shares worth $1,069,719. 29.02% of the stock is owned by corporate insiders.

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. At Equitable Bank we are as invested in our employees as we are in our business. Thats why we are consistently recognized as one of Canadas Top Employers a rating that comes from our 1300+ employees.

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