EQB (TSE:EQB) Rating Increased to Hold at Scotiabank

Key Points

• EQB has been upgraded to a "hold" rating by Scotiabank, reflecting a cautious outlook on the stock.
• The consensus price target for EQB shares is currently set at C$117.70, with a mix of buy and hold ratings from various analysts.
• As of Monday, EQB's stock traded down 0.4% to C$100.57, with a market capitalization of C$3.89 billion.

Scotiabank upgraded shares of EQB (TSE:EQB - Free Report) to a hold rating in a research report sent to investors on Monday, August 18th,Zacks.com reports.

EQB has been the topic of a number of other research reports. Jefferies Financial Group increased their price target on EQB from C$107.00 to C$119.00 in a research report on Wednesday, August 13th. Desjardins set a C$110.00 target price on EQB and gave the stock a "buy" rating in a research report on Wednesday, August 13th. BMO Capital Markets lowered EQB from an "outperform" rating to a "hold" rating and cut their target price for the stock from C$115.00 to C$111.00 in a research report on Tuesday, August 12th. National Bankshares cut their target price on EQB from C$106.00 to C$104.00 and set a "sector perform" rating on the stock in a research report on Friday, August 15th. Finally, CIBC cut their target price on EQB from C$130.00 to C$126.00 in a research report on Thursday, May 22nd. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of C$117.70.

EQB Stock Performance

EQB stock traded down C$1.12 during mid-day trading on Monday, reaching C$100.26. The company had a trading volume of 33,474 shares, compared to its average volume of 86,108. The company has a market capitalization of C$3.88 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59. The firm has a fifty day simple moving average of C$100.92 and a 200 day simple moving average of C$97.89. EQB has a fifty-two week low of C$85.14 and a fifty-two week high of C$114.22.

EQB Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 30th were issued a $0.53 dividend. The ex-dividend date of this dividend was Friday, June 13th. This is an increase from EQB's previous quarterly dividend of $0.51. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.1%. EQB's dividend payout ratio is presently 29.31%.

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.