EQB (TSE:EQB) Stock Passes Below 200 Day Moving Average - Here's What Happened

EQB Inc. (TSE:EQB - Get Free Report) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$98.60 and traded as low as C$95.80. EQB shares last traded at C$98.75, with a volume of 120,927 shares.

Analyst Ratings Changes

EQB has been the subject of a number of research analyst reports. Royal Bank Of Canada reduced their target price on EQB from C$153.00 to C$147.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. CIBC lowered their price target on EQB from C$130.00 to C$126.00 in a research report on Thursday, May 22nd. National Bankshares decreased their target price on 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. Jefferies Financial Group cut their price target on EQB from C$126.00 to C$107.00 in a research note on Monday, April 21st. Finally, Desjardins cut their target price on EQB from C$130.00 to C$126.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of C$119.60.

EQB Stock Performance

The firm's 50-day moving average price is C$94.23 and its two-hundred day moving average price is C$98.60. The firm has a market capitalization of C$3.82 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59.

EQB Increases Dividend

The company 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 $0.53 dividend. The ex-dividend date of this dividend is Friday, June 13th. This is a positive change from EQB's previous quarterly dividend of $0.51. This represents a $2.12 dividend on an annualized basis and a yield of 2.15%. EQB's payout ratio is 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.

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