EQB (TSE:EQB) Shares Pass Above 50 Day Moving Average - Time to Sell?

Key Points

• The share price of EQB Inc. has crossed above its 50-day moving average, reaching C$101.30, with the last trade at C$100.00.
• Analyst ratings for EQB show a consensus of "Hold" with a current price target averaging C$117.70, following various adjustments from multiple financial institutions.
• The company recently increased its quarterly dividend to C$0.53 per share, representing an annualized yield of 2.1%.

EQB Inc. (TSE:EQB - Get Free Report) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$101.09 and traded as high as C$101.30. EQB shares last traded at C$100.00, with a volume of 98,524 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EQB. Jefferies Financial Group cut EQB from a "buy" rating to a "hold" rating and decreased their price objective for the company from C$119.00 to C$107.00 in a report on Friday. National Bankshares decreased their price objective on EQB from C$104.00 to C$89.00 and set a "sector perform" rating on the stock in a report on Thursday. Desjardins dropped their target price on EQB from C$110.00 to C$103.00 and set a "buy" rating for the company in a report on Friday. Royal Bank Of Canada dropped their target price on EQB from C$124.00 to C$112.00 and set an "outperform" rating for the company in a report on Friday. Finally, Raymond James Financial cut EQB from a "moderate buy" rating to a "hold" rating and dropped their target price for the company from C$108.00 to C$93.00 in a report on Thursday. Two investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of C$102.40.

EQB Trading Up 0.2%

The stock has a market cap of C$3.46 billion, a PE ratio of 9.27, a P/E/G ratio of 0.34 and a beta of 1.42. The business has a fifty day simple moving average of C$101.32 and a two-hundred day simple moving average of C$97.65.

EQB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 30th were given a $0.53 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. This is an increase from EQB's previous quarterly dividend of $0.51. EQB's dividend payout ratio is currently 19.67%.

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.