EQB (TSE:EQB) Stock Price Passes Below 200-Day Moving Average - What's Next?

Key Points

• EQB Inc. shares fell below their 200-day moving average for the first time, closing at C$92.25 after reaching a low of C$91.57.
• A number of analysts downgraded their price targets for EQB, with CIBC bringing their target down to C$116 while National Bankshares set theirs at C$89.
• EQB recently announced a dividend increase, with shareholders set to receive $0.55 per share, up from $0.53, representing a yield of 2.4%.

EQB Inc. (TSE:EQB - Get Free Report) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$96.96 and traded as low as C$91.57. EQB shares last traded at C$92.25, with a volume of 361,353 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Desjardins lowered their price target on shares of EQB from C$110.00 to C$103.00 and set a "buy" rating for the company in a research report on Friday, August 29th. Jefferies Financial Group cut shares of EQB from a "buy" rating to a "hold" rating and lowered their price target for the company from C$119.00 to C$107.00 in a research report on Friday, August 29th. BMO Capital Markets lowered their price target on shares of EQB from C$111.00 to C$100.00 in a research report on Friday, August 29th. National Bankshares lowered their price target on shares of EQB from C$104.00 to C$89.00 and set a "sector perform" rating for the company in a research report on Thursday, August 28th. Finally, Raymond James Financial cut shares of EQB from a "moderate buy" rating to a "hold" rating and lowered their price target for the company from C$108.00 to C$93.00 in a research report on Thursday, August 28th. Two investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of C$102.40.

EQB Stock Down 1.4%

The firm has a market capitalization of C$3.50 billion, a PE ratio of 10.34, a PEG ratio of 0.34 and a beta of 1.27. The firm's fifty day simple moving average is C$99.68 and its 200-day simple moving average is C$96.68.

EQB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, September 15th. This is a positive change from EQB's previous quarterly dividend of $0.53. This represents a $2.20 annualized dividend and a dividend yield of 2.4%. EQB's dividend payout ratio is presently 22.68%.

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.