EQB (TSE:EQB) Insider Purchases C$2,083,840.00 in Stock

Key Points

• Loblaw Companies Limited purchased 16,000 EQB shares at an average C$130.24 per share, investing C$2.08 million and increasing its ownership to 1.58 million shares valued at approximately C$205.8 million.
• EQB shares rose 1.3% to C$130.16, while the company reported quarterly EPS of C$2.12 on revenue of C$393.04 million. The stock’s consensus analyst rating is “Hold,” with an average price target of C$139.10.
• EQB increased its quarterly dividend from C$0.61 to C$0.63 per share, equivalent to C$2.52 annually and a 1.9% yield.

EQB Inc. (TSE:EQB - Get Free Report) insider Loblaw Companies Limited purchased 16,000 shares of the stock in a transaction on Tuesday, September 8th. The shares were acquired at an average cost of C$130.24 per share, with a total value of C$2,083,840.00. Following the transaction, the insider directly owned 1,580,100 shares in the company, valued at C$205,792,224. The trade was a 1.02% increase in their ownership of the stock.

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

• On Thursday, September 10th, Loblaw Companies Limited bought 16,000 shares of EQB stock. The shares were acquired at an average cost of C$128.16 per share, for a total transaction of C$2,050,560.00.
• On Monday, August 31st, Loblaw Companies Limited bought 16,000 shares of EQB stock. The shares were 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 purchased 16,000 shares of EQB stock. The stock was acquired at an average cost of C$127.81 per share, with a total value of C$2,044,960.00.
• On Thursday, September 3rd, Loblaw Companies Limited purchased 8,000 shares of EQB stock. The stock was bought at an average price of C$133.12 per share, for a total transaction of C$1,064,960.00.
• On Monday, August 24th, Loblaw Companies Limited acquired 8,000 shares of EQB stock. The shares were bought 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 acquired 8,000 shares of EQB stock. The stock was bought 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 bought 16,000 shares of EQB stock. The stock was bought at an average cost of C$124.91 per share, with a total value of C$1,998,560.00.
• On Thursday, August 20th, Loblaw Companies Limited bought 8,000 shares of EQB stock. The shares were bought at an average cost of C$134.00 per share, for a total transaction of C$1,072,000.00.
• On Tuesday, August 4th, Loblaw Companies Limited purchased 8,000 shares of EQB stock. The shares were bought 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 purchased 8,000 shares of EQB stock. The stock was bought at an average cost of C$137.62 per share, with a total value of C$1,100,960.00.

EQB Trading Up 1.3%

EQB stock traded up C$1.65 during trading hours on Friday, hitting C$130.16. 37,691 shares of the stock traded hands, compared to its average volume of 121,321. The firm's 50-day moving average price is C$136.93 and its two-hundred day moving average price is C$124.40. The company has a market cap of C$5.54 billion, a PE ratio of -464.86, a PEG ratio of 0.34 and a beta of 0.83. 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 announced its earnings results on Wednesday, August 26th. The company reported C$2.12 earnings per share (EPS) for the quarter. EQB had a negative return on equity of 0.07% and a negative net margin of 0.08%.The firm had revenue of C$393.04 million during the quarter. On average, sell-side analysts expect that EQB Inc. will post 12.5988235 earnings per share for the current fiscal year.

EQB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th will be given a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from EQB's previous quarterly dividend of $0.61. EQB's payout ratio is currently -828.57%.

Analyst Ratings Changes

Several equities research analysts recently commented on EQB shares. Scotiabank dropped their price objective on shares of EQB from C$141.00 to C$135.00 in a research note on Monday, August 31st. TD upped their price target on EQB from C$123.00 to C$154.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. Canadian Imperial Bank of Commerce reduced their price objective 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. Jefferies Financial Group lowered their price objective on EQB from C$128.00 to C$127.00 in a research note on Thursday, September 3rd. Finally, Desjardins cut their target price on EQB from C$155.00 to C$150.00 and set a "buy" rating on the stock in a research note on Friday, August 28th. Six 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 company's stock. Based on data from MarketBeat, EQB currently has a consensus rating of "Hold" and a consensus 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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