EQB (TSE:EQB) Insider Loblaw Companies Limited Buys 16,000 Shares

Key Points

• Loblaw Companies Limited bought another 16,000 EQB shares at an average C$126.07 each, investing approximately C$2.02 million. The purchase increased its direct ownership to 1,724,100 shares, valued at about C$217.4 million.
• The transaction continues a series of EQB purchases by Loblaw since late August, signaling sustained insider buying. EQB shares rose 2.1% to C$126.77 during Monday’s trading session.
• EQB raised its quarterly dividend to C$0.63 per share from C$0.61, equivalent to an annualized C$2.52 dividend and a 2.0% yield. Analysts maintain a consensus “Hold” rating with an average price target of C$139.10.

EQB Inc. (TSE:EQB - Get Free Report) insider Loblaw Companies Limited bought 16,000 shares of the stock in a transaction on Monday, September 21st. The stock was purchased at an average cost of C$126.07 per share, with a total value of C$2,017,120.00. Following the completion of the purchase, the insider directly owned 1,724,100 shares in the company, valued at C$217,357,287. This trade represents a 0.94% increase in their position.

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

• On Tuesday, September 15th, Loblaw Companies Limited purchased 16,000 shares of EQB stock. The shares were acquired at an average cost of C$126.95 per share, for a total transaction of C$2,031,200.00.
• On Thursday, September 17th, Loblaw Companies Limited purchased 16,000 shares of EQB stock. The shares were acquired at an average cost of C$126.90 per share, for a total transaction of C$2,030,400.00.
• On Tuesday, September 8th, Loblaw Companies Limited acquired 16,000 shares of EQB stock. The shares were acquired at an average price of C$130.24 per share, for a total transaction of C$2,083,840.00.
• On Thursday, September 10th, Loblaw Companies Limited acquired 16,000 shares of EQB stock. The stock was acquired at an average cost of C$128.16 per share, with a total value of C$2,050,560.00.
• On Monday, August 31st, Loblaw Companies Limited bought 16,000 shares of EQB stock. The stock was acquired 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 bought 16,000 shares of EQB stock. The shares were acquired at an average price of C$127.81 per share, for a total transaction of C$2,044,960.00.
• On Thursday, September 3rd, Loblaw Companies Limited purchased 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 purchased 8,000 shares of EQB stock. The stock was acquired at an average price of C$137.01 per share, with a total value 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, with a total value of C$1,998,560.00.

EQB Stock Up 2.1%

Shares of EQB stock traded up C$2.59 during trading hours on Monday, hitting C$126.77. 113,183 shares of the company were exchanged, compared to its average volume of 123,370. The firm has a market cap of C$4.64 billion, a PE ratio of -452.75, a PEG ratio of 0.34 and a beta of 0.83. EQB Inc. has a 1 year low of C$83.93 and a 1 year high of C$150.32. The firm has a fifty day moving average of C$135.48 and a 200 day moving average of C$124.92.

EQB (TSE:EQB - Get Free Report) last released 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 business had revenue of C$393.04 million for the quarter. Analysts expect that EQB Inc. will post 12.5988235 earnings per share for the current year.

EQB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th will be issued a $0.63 dividend. This is a boost from EQB's previous quarterly dividend of $0.61. The ex-dividend date is Tuesday, September 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.0%. EQB's dividend payout ratio (DPR) is -828.57%.

Wall Street Analysts Forecast Growth

EQB has been the topic of several research reports. National Bank Financial increased their target price on EQB from C$120.00 to C$143.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 13th. Canadian Imperial Bank of Commerce lowered their price target on 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. Desjardins dropped their price target on EQB from C$155.00 to C$150.00 and set a "buy" rating for the company in a research note on Friday, August 28th. Raymond James Financial downgraded EQB from a "hold" rating to a "strong sell" rating and cut their price objective for the stock from C$136.00 to C$120.00 in a report on Friday, August 28th. Finally, Scotiabank reduced their price objective on EQB from C$141.00 to C$135.00 in a research note on Monday, August 31st. 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 company's stock. According to data from MarketBeat.com, EQB presently has an average rating of "Hold" and an average price target 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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