EQB (TSE:EQB) Insider Loblaw Companies Limited Buys 8,000 Shares of Stock

Key Points

• Loblaw Companies Limited continued buying EQB shares, acquiring 8,000 shares at an average C$137.01 for approximately C$1.10 million and increasing its stake to 1,458,100 shares valued at about C$199.8 million.
• EQB shares fell 3.2% to C$124.64, despite reporting quarterly revenue of C$393.04 million and earnings of C$2.12 per share. The company also increased its quarterly dividend to C$0.61 per share, implying a 2.0% yield.
• Analyst sentiment remains mixed: the consensus rating is “Hold” with a C$138.30 price target, while Raymond James downgraded the stock to “underperform” and other firms maintained generally positive ratings with targets above its recent price.

EQB Inc. (TSE:EQB - Get Free Report) insider Loblaw Companies Limited acquired 8,000 shares of the business's stock in a transaction that occurred on Wednesday, August 26th. The stock was bought at an average cost of C$137.01 per share, for a total transaction of C$1,096,080.00. Following the completion of the purchase, the insider directly owned 1,458,100 shares in the company, valued at C$199,774,281. This represents a 0.55% increase in their position.

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

• On Monday, August 24th, Loblaw Companies Limited bought 8,000 shares of EQB stock. The shares were purchased at an average cost of C$133.47 per share, with a total value of C$1,067,760.00.
• On Thursday, August 27th, Loblaw Companies Limited purchased 16,000 shares of EQB stock. The stock was bought at an average price of C$124.91 per share, for a total transaction of C$1,998,560.00.
• On Thursday, August 20th, Loblaw Companies Limited acquired 8,000 shares of EQB stock. The shares were acquired at an average cost of C$134.00 per share, with a total value of C$1,072,000.00.
• On Tuesday, August 4th, Loblaw Companies Limited acquired 8,000 shares of EQB stock. The shares were purchased at an average cost of C$142.40 per share, with a total value of C$1,139,200.00.
• On Thursday, August 6th, Loblaw Companies Limited acquired 8,000 shares of EQB stock. The stock was acquired at an average cost of C$137.62 per share, for a total transaction of C$1,100,960.00.
• On Wednesday, July 15th, Loblaw Companies Limited bought 6,100 shares of EQB stock. The shares were bought at an average price of C$143.88 per share, for a total transaction of C$877,668.00.
• On Friday, July 17th, Loblaw Companies Limited purchased 8,000 shares of EQB stock. The stock was bought at an average cost of C$144.62 per share, for a total transaction of C$1,156,960.00.
• On Monday, July 20th, Loblaw Companies Limited bought 8,000 shares of EQB stock. The stock was purchased at an average price of C$141.57 per share, for a total transaction of C$1,132,560.00.

EQB Stock Down 3.2%

EQB traded down C$4.15 during trading on Friday, hitting C$124.64. The company had a trading volume of 164,848 shares, compared to its average volume of 120,521. The company has a market capitalization of C$4.42 billion, a PE ratio of 24.49, a PEG ratio of 0.34 and a beta of 0.92. The firm's 50-day moving average price is C$136.99 and its 200 day moving average price is C$123.60. EQB Inc. has a one year low of C$83.93 and a one year high of C$150.32.

EQB (TSE:EQB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 26th. The company reported C$2.12 earnings per share for the quarter. EQB had a return on equity of 6.16% and a net margin of 6.61%.The firm had revenue of C$393.04 million for the quarter. Sell-side analysts forecast that EQB Inc. will post 12.5988235 earnings per share for the current year.

EQB Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.61 per share. This is an increase from EQB's previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.0%. EQB's payout ratio is currently 44.01%.

Wall Street Analysts Forecast Growth

EQB has been the subject of several recent analyst reports. Raymond James Financial downgraded EQB from a "market perform" rating to an "underperform" rating and dropped their price objective for the stock from C$136.00 to C$120.00 in a research report on Friday. Royal Bank Of Canada raised their price objective on EQB from C$131.00 to C$146.00 and gave the company an "outperform" rating in a report on Friday. Canadian Imperial Bank of Commerce reduced their price objective on EQB from C$165.00 to C$154.00 and set an "outperformer" rating on the stock in a research report on Friday. Scotiabank upped their target price on EQB from C$122.00 to C$125.00 and gave the company a "sector perform" rating in a report on Monday, June 1st. Finally, Jefferies Financial Group boosted their price objective on EQB from C$122.00 to C$129.00 and gave the company a "hold" rating in a research note on Thursday, August 13th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of C$138.30.

Key Stories Impacting EQB

Here are the key news stories impacting EQB this week:

• Positive Sentiment: Royal Bank of Canada raised its price target for EQB to C$146 from C$131 and reiterated an “outperform” rating, indicating confidence in the company’s longer-term outlook. BayStreet.CA analyst ratings
• Positive Sentiment: BMO Capital maintained a “buy” rating and a C$145 price target, citing the PC Financial acquisition’s potential to diversify EQB’s revenue and deposit base and support future earnings growth. BMO analyst commentary
• Positive Sentiment: Desjardins lowered its target to C$150 from C$155 but retained a “buy” rating, while CIBC cut its target to C$154 from C$165 and assigned an “outperformer” rating. Both targets remain well above the recent trading level. Analyst target changes
• Neutral Sentiment: The analyst revisions show a more cautious valuation outlook after the quarterly results, but the majority of cited firms continue to recommend buying or outperforming EQB shares.
• Negative Sentiment: EQB reported a C$127 million third-quarter loss, driven largely by a C$219 million provision for credit losses associated with the PC Financial transaction. Although revenue increased and the company reported C$2.12 in quarterly EPS under the cited earnings measure, the headline loss raises concerns about near-term credit quality and integration costs. MarketWatch EQB credit-loss report
• Negative Sentiment: Raymond James downgraded EQB from “market perform” to “underperform” and reduced its price target to C$120 from C$136, making it the clearest bearish signal among the latest analyst updates. Raymond James analyst rating

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source