EQB (TSE:EQB) Stock Passes Below Fifty Day Moving Average - Here's Why

Key Points

• EQB's shares slid below their 50‑day moving average, trading as low as C$111.87 versus a 50‑day MA of C$113.18 and last quoted at C$113.03 on the session reported.
• Analyst sentiment is mixed with a consensus "Hold" (four Buys, six Holds) and an average price target of C$117.44, amid several recent target revisions and BMO's upgrade to "outperform."
• Dividend was increased to a quarterly C$0.59 (paid March 31), up from C$0.57, implying an annualized C$2.36 and a yield of about 2.1% with a payout ratio near 36%.

EQB Inc. (TSE:EQB - Get Free Report)'s share price passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$113.18 and traded as low as C$111.87. EQB shares last traded at C$113.03, with a volume of 235,321 shares.

Analyst Ratings Changes

Several brokerages recently commented on EQB. TD Securities dropped their price objective on EQB from C$138.00 to C$132.00 in a research note on Thursday, February 26th. Desjardins raised their price objective on EQB from C$110.00 to C$125.00 and gave the stock a "buy" rating in a research note on Monday, February 9th. Jefferies Financial Group raised their price objective on EQB from C$97.00 to C$109.00 in a research note on Wednesday, February 11th. Scotiabank lifted their price target on EQB from C$105.00 to C$122.00 in a research note on Friday, February 27th. Finally, BMO Capital Markets raised EQB from a "hold" rating to an "outperform" rating and upped their price objective for the stock from C$108.00 to C$130.00 in a research report on Tuesday, January 20th. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of C$117.44.

EQB Price Performance

The company has a market capitalization of C$4.14 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 0.34 and a beta of 0.70. The firm has a 50-day moving average price of C$113.18 and a two-hundred day moving average price of C$101.30.

EQB Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were given a $0.59 dividend. This is an increase from EQB's previous quarterly dividend of $0.57. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, March 13th. EQB's dividend payout ratio (DPR) is presently 36.06%.

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. At Equitable Bank we are as invested in our employees as we are in our business. Thats why we are consistently recognized as one of Canadas Top Employers a rating that comes from our 1300+ employees.

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