EQB (TSE:EQB) Insider Acquires 16,000 Shares of Stock

Key Points

• Loblaw Companies Limited acquired 16,000 EQB shares at an average price of C$128.16, investing approximately C$2.05 million and increasing its ownership to 1,612,100 shares.
• EQB shares rose 1.3% to C$130.16, while the company reported quarterly revenue of C$393.04 million and earnings of C$2.12 per share.
• EQB increased its quarterly dividend from $0.61 to $0.63 per share, equivalent to an annualized $2.52 dividend and a 1.9% yield; analysts’ consensus rating remained “Hold,” with an average target price of C$139.10.

EQB Inc. (TSE:EQB - Get Free Report) insider Loblaw Companies Limited acquired 16,000 shares of the company's stock in a transaction that occurred on Thursday, September 10th. The stock was acquired at an average price of C$128.16 per share, with a total value of C$2,050,560.00. Following the acquisition, the insider owned 1,612,100 shares in the company, valued at C$206,606,736. The trade was a 1.00% increase in their ownership of the stock.

Loblaw Companies Limited also recently made the following trade(s):

• On Tuesday, September 8th, Loblaw Companies Limited purchased 16,000 shares of EQB stock. The stock was bought at an average cost of C$130.24 per share, with a total value of C$2,083,840.00.
• On Monday, August 31st, Loblaw Companies Limited purchased 16,000 shares of EQB stock. The shares were purchased at an average price of C$126.79 per share, with a total value of C$2,028,640.00.
• On Wednesday, September 2nd, Loblaw Companies Limited acquired 16,000 shares of EQB stock. The stock was purchased at an average cost of C$127.81 per share, for a total transaction of C$2,044,960.00.
• On Thursday, September 3rd, Loblaw Companies Limited acquired 8,000 shares of EQB stock. The stock was acquired at an average cost of C$133.12 per share, for a total transaction of C$1,064,960.00.
• On Monday, August 24th, Loblaw Companies Limited purchased 8,000 shares of EQB stock. The stock was acquired at an average cost of C$133.47 per share, for a total transaction of C$1,067,760.00.
• On Wednesday, August 26th, Loblaw Companies Limited bought 8,000 shares of EQB stock. The shares were bought at an average price of C$137.01 per share, for a total transaction of C$1,096,080.00.
• On Thursday, August 27th, Loblaw Companies Limited acquired 16,000 shares of EQB stock. The shares were bought at an average cost of C$124.91 per share, for a total transaction of C$1,998,560.00.
• On Thursday, August 20th, Loblaw Companies Limited bought 8,000 shares of EQB stock. The stock was purchased at an average price of C$134.00 per share, with a total value of C$1,072,000.00.
• On Tuesday, August 4th, Loblaw Companies Limited bought 8,000 shares of EQB stock. The stock was purchased at an average price of C$142.40 per share, for a total transaction of C$1,139,200.00.
• On Thursday, August 6th, Loblaw Companies Limited bought 8,000 shares of EQB stock. The shares were acquired at an average cost of C$137.62 per share, with a total value of C$1,100,960.00.

EQB Stock Up 1.3%

EQB stock traded up C$1.65 during mid-day trading on Friday, reaching C$130.16. 37,691 shares of the company traded hands, compared to its average volume of 121,321. The firm's 50 day moving average price is C$136.93 and its 200 day moving average price is C$124.40. EQB Inc. has a fifty-two week low of C$83.93 and a fifty-two week high of C$150.32. The stock has a market cap of C$5.54 billion, a price-to-earnings ratio of -464.86, a P/E/G ratio of 0.34 and a beta of 0.83.

EQB (TSE:EQB - Get Free Report) last posted its earnings results on Wednesday, August 26th. The company reported C$2.12 earnings per share (EPS) for the quarter. EQB had a negative net margin of 0.08% and a negative return on equity of 0.07%. The firm had revenue of C$393.04 million during the quarter. On average, analysts anticipate that EQB Inc. will post 12.5988235 EPS for the current fiscal year.

EQB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.9%. This is a boost from EQB's previous quarterly dividend of $0.61. The ex-dividend date is Tuesday, September 15th. EQB's dividend payout ratio is -828.57%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Scotiabank decreased their target price on EQB from C$141.00 to C$135.00 in a research report on Monday, August 31st. Canadian Imperial Bank of Commerce cut their target price on shares of EQB from C$165.00 to C$154.00 and set an "outperformer" rating for the company in a research report on Friday, August 28th. Raymond James Financial cut shares of EQB from a "hold" rating to a "strong sell" rating and dropped their price target for the company from C$136.00 to C$120.00 in a research note on Friday, August 28th. Desjardins cut their price objective on shares of EQB from C$155.00 to C$150.00 and set a "buy" rating for the company in a report on Friday, August 28th. Finally, TD lifted their price objective on shares of EQB from C$123.00 to C$154.00 and gave the company a "buy" rating in a research note on Friday, August 14th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, EQB currently has an average rating of "Hold" and an average target price of C$139.10.

EQB Company Profile

EQB Inc TSX: EQB is a leading Canadian financial services company with approximately $151 billion in combined assets under management and administration. It is the parent company of Equitable Bank, the country's seventh largest Schedule I bank by assets, which operates EQ Bank, Canada's Challenger Bank. Our purpose is to remake banking so every Canadian gets ahead, every day. Since 1970, we have built thoughtful financial solutions that serve more than 4 million customers, turning everyday moments into meaningful progress.

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