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

Key Points

• Loblaw Companies Limited continued its buying spree in EQB, acquiring 16,000 shares at C$126.90 each for C$2.03 million. Its stake rose 0.95% to 1,692,100 shares, valued at approximately C$214.7 million.
• EQB shares fell 1.3% to C$123.78, trading below the 50-day moving average but near the 200-day average. The stock has ranged from C$83.93 to C$150.32 over the past year.
• EQB raised its quarterly dividend from $0.61 to $0.63 per share, implying an annualized dividend of $2.52 and a 2.0% yield. Analysts’ consensus rating is “Hold,” with an average price target 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 dated Thursday, September 17th. The stock was acquired at an average price of C$126.90 per share, with a total value of C$2,030,400.00. Following the purchase, the insider owned 1,692,100 shares in the company, valued at approximately C$214,727,490. This represents a 0.95% increase in their position.

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

• On Tuesday, September 15th, Loblaw Companies Limited bought 16,000 shares of EQB stock. The shares were acquired at an average price of C$126.95 per share, for a total transaction of C$2,031,200.00.
• On Tuesday, September 8th, Loblaw Companies Limited bought 16,000 shares of EQB stock. The stock was acquired at an average cost of C$130.24 per share, for a total transaction of C$2,083,840.00.
• On Thursday, September 10th, Loblaw Companies Limited purchased 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 purchased 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 shares were acquired at an average price of C$127.81 per share, with a total value of C$2,044,960.00.
• On Thursday, September 3rd, Loblaw Companies Limited acquired 8,000 shares of EQB stock. The shares were bought 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 acquired 8,000 shares of EQB stock. The stock was bought at an average price 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 stock was bought at an average cost 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 shares were bought at an average price 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 price of C$134.00 per share, with a total value of C$1,072,000.00.

EQB Trading Down 1.3%

EQB stock traded down C$1.61 during trading on Friday, hitting C$123.78. The company had a trading volume of 91,029 shares, compared to its average volume of 121,195. EQB Inc. has a fifty-two week low of C$83.93 and a fifty-two week high of C$150.32. The company has a fifty day moving average price of C$135.97 and a two-hundred day moving average price of C$124.79. The company has a market cap of C$4.53 billion, a P/E ratio of -442.07, a P/E/G ratio of 0.34 and a beta of 0.83.

EQB (TSE:EQB - Get Free Report) last announced its quarterly earnings results on Wednesday, August 26th. The company reported C$2.12 earnings per share (EPS) for the quarter. The firm had revenue of C$393.04 million during the quarter. EQB had a negative net margin of 0.08% and a negative return on equity of 0.07%. On average, analysts expect that EQB Inc. will post 12.5988235 earnings per share for the current 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 issued a dividend of $0.63 per share. The ex-dividend date is Tuesday, September 15th. This is a boost from EQB's previous quarterly dividend of $0.61. This represents a $2.52 annualized dividend and a dividend yield of 2.0%. EQB's dividend payout ratio (DPR) is currently -828.57%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Royal Bank Of Canada upped their price target on shares of EQB from C$131.00 to C$146.00 and gave the stock an "outperform" rating in a research report on Friday, August 28th. Desjardins dropped their target price on shares of 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. National Bank Financial upped their target price on shares of 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. Jefferies Financial Group decreased their price target on shares of EQB from C$128.00 to C$127.00 in a research note on Thursday, September 3rd. Finally, Raymond James Financial lowered shares of EQB from a "hold" rating to a "strong sell" rating and lowered their price target for the company from C$136.00 to C$120.00 in a report on Friday, August 28th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus 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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