EQB (TSE:EQB) Stock Price Passes Below 200-Day Moving Average - Should You Sell?

Shares of EQB Inc. (TSE:EQB - Get Free Report) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$99.77 and traded as low as C$91.41. EQB shares last traded at C$92.78, with a volume of 73,225 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on EQB shares. Royal Bank of Canada decreased their price objective on shares of EQB from C$153.00 to C$147.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. National Bankshares decreased their price target on shares of EQB from C$117.00 to C$111.00 and set a "sector perform" rating for the company in a report on Thursday, May 22nd. Scotiabank dropped their price objective on shares of EQB from C$130.00 to C$119.00 and set an "outperform" rating on the stock in a research note on Thursday, February 20th. Desjardins decreased their target price on EQB from C$130.00 to C$126.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Finally, CIBC dropped their price target on EQB from C$130.00 to C$126.00 in a research report on Thursday, May 22nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of C$119.60.

EQB Stock Down 0.7%

The firm has a market capitalization of C$3.54 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 0.34 and a beta of 1.59. The company has a 50-day moving average price of C$93.67 and a 200-day moving average price of C$99.42.

EQB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 30th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.32%. This is an increase from EQB's previous quarterly dividend of $0.51. The ex-dividend date is Friday, June 13th. EQB's payout ratio is 29.31%.

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.