EQB (TSE:EQB) Upgraded 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 released on Monday morning,Zacks.com reports.

A number of other analysts have also recently weighed in on EQB. Jefferies Financial Group boosted 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 price target on EQB and gave the stock a "buy" rating in a research report on Wednesday, August 13th. National Bankshares reduced their price target on EQB from C$106.00 to C$104.00 and set a "sector perform" rating for the company in a research report on Friday, August 15th. CIBC reduced their price target on EQB from C$130.00 to C$126.00 in a research report on Thursday, May 22nd. Finally, BMO Capital Markets cut EQB from an "outperform" rating to a "hold" rating and reduced their price target for the stock from C$115.00 to C$111.00 in a research report on Tuesday, August 12th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, EQB presently has a consensus rating of "Hold" and a consensus target price of C$117.70.

EQB Price Performance

EQB traded up C$1.57 during trading on Monday, reaching C$101.38. 148,156 shares of the stock traded hands, compared to its average volume of 86,439. The stock has a market cap of C$3.92 billion, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59. EQB has a fifty-two week low of C$85.14 and a fifty-two week high of C$114.22. The stock's 50-day simple moving average is C$100.92 and its two-hundred day simple moving average is C$97.95.

EQB Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 30th were paid a $0.53 dividend. The ex-dividend date was Friday, June 13th. This is a boost 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.