Loblaw Companies Limited Purchases 16,000 Shares of EQB (TSE:EQB) Stock

Key Points

• Loblaw Companies Limited continued buying EQB shares, acquiring 16,000 shares at an average C$126.79 each for C$2.03 million. It now directly owns 1,516,100 shares valued at approximately C$192.2 million.
• EQB shares fell 0.8% to C$132.92, while the company reported quarterly EPS of C$2.12 on revenue of C$393.04 million. EQB also raised its quarterly dividend to C$0.61, equivalent to a 1.8% annual yield.
• Analyst sentiment is mixed: six analysts rate EQB a Buy, four a Hold, and one a Sell, producing an overall “Hold” rating and 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 that occurred on Monday, August 31st. The shares were purchased at an average price of C$126.79 per share, with a total value of C$2,028,640.00. Following the completion of the acquisition, the insider directly owned 1,516,100 shares in the company, valued at C$192,226,319. This trade represents a 1.07% increase in their ownership of the stock.

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

• 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 acquired 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 stock was bought at an average price of C$133.47 per share, with a total value of C$1,067,760.00.
• On Wednesday, August 26th, Loblaw Companies Limited bought 8,000 shares of EQB stock. The shares were purchased 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 bought 16,000 shares of EQB stock. The stock was purchased 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 purchased 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 purchased 8,000 shares of EQB stock. The shares were purchased at an average price 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 purchased at an average price of C$137.62 per share, for a total transaction of C$1,100,960.00.
• On Wednesday, July 15th, Loblaw Companies Limited purchased 6,100 shares of EQB stock. The stock was acquired 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 shares were acquired at an average cost of C$144.62 per share, with a total value of C$1,156,960.00.

EQB Trading Down 0.8%

EQB stock traded down C$1.05 during trading on Friday, hitting C$132.92. 113,816 shares of the company's stock were exchanged, compared to its average volume of 121,772. The stock has a market capitalization of C$5.66 billion, a price-to-earnings ratio of -474.71, a PEG ratio of 0.34 and a beta of 0.83. EQB Inc. has a 52-week low of C$83.93 and a 52-week high of C$150.32. The business has a 50-day moving average price of C$137.22 and a two-hundred day moving average price of C$124.06.

EQB (TSE:EQB - Get Free Report) last posted its earnings results on Wednesday, August 26th. The company reported C$2.12 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 for the quarter. On average, equities research analysts anticipate that EQB Inc. will post 12.5988235 earnings per share for the current fiscal year.

EQB Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were paid a $0.61 dividend. This is a boost from EQB's previous quarterly dividend of $0.59. This represents a $2.44 annualized dividend and a yield of 1.8%. The ex-dividend date was Monday, June 15th. EQB's payout ratio is currently -828.57%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on EQB shares. Raymond James Financial downgraded EQB from a "hold" rating to a "strong sell" rating and reduced their target price for the company from C$136.00 to C$120.00 in a report on Friday, August 28th. Jefferies Financial Group dropped their price target on EQB from C$128.00 to C$127.00 in a research note on Thursday. Canadian Imperial Bank of Commerce cut their price target on EQB from C$165.00 to C$154.00 and set an "outperformer" rating on the stock in a research report on Friday, August 28th. Royal Bank Of Canada boosted their price objective on EQB from C$131.00 to C$146.00 and gave the company an "outperform" rating in a research note on Friday, August 28th. Finally, Scotiabank decreased their price objective on EQB from C$141.00 to C$135.00 in a report on Monday, August 31st. Six investment 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of C$139.10.

About EQB

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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