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

Key Points

• Loblaw Companies Limited bought 8,000 EQB shares at an average price of C$133.12, investing approximately C$1.06 million and increasing its stake by 0.52% to 1,556,100 shares.
• EQB shares fell 0.8% to C$132.92, while the company reported quarterly EPS of C$2.12 and revenue of C$393.04 million. EQB also raised its quarterly dividend to C$0.61 per share.
• Analyst sentiment is mixed, with six Buy, four Hold and one Sell rating; the average price target is C$139.10, though several firms recently lowered their targets.

EQB Inc. (TSE:EQB - Get Free Report) insider Loblaw Companies Limited purchased 8,000 shares of the firm's stock in a transaction dated Thursday, September 3rd. The stock was bought at an average cost of C$133.12 per share, with a total value of C$1,064,960.00. Following the purchase, the insider owned 1,556,100 shares of the company's stock, valued at approximately C$207,148,032. This trade represents a 0.52% increase in their position.

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

• On Monday, August 31st, Loblaw Companies Limited acquired 16,000 shares of EQB stock. The stock was bought at an average cost of C$126.79 per share, for a total transaction of C$2,028,640.00.
• On Wednesday, September 2nd, Loblaw Companies Limited acquired 16,000 shares of EQB stock. The stock was purchased at an average cost of C$127.81 per share, for a total transaction of C$2,044,960.00.
• On Monday, August 24th, Loblaw Companies Limited acquired 8,000 shares of EQB stock. The shares were purchased 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 purchased 8,000 shares of EQB stock. The shares were purchased at an average cost of C$137.01 per share, for a total transaction of C$1,096,080.00.
• On Thursday, August 27th, Loblaw Companies Limited purchased 16,000 shares of EQB stock. The shares were acquired 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 acquired 8,000 shares of EQB stock. The stock was 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 stock was acquired 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 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 bought 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 mid-day trading on Friday, reaching C$132.92. The company's stock had a trading volume of 113,816 shares, compared to its average volume of 121,772. The company has a market cap of C$5.66 billion, a price-to-earnings ratio of -474.71, a price-to-earnings-growth ratio of 0.34 and a beta of 0.83. The business's 50 day moving average price is C$137.22 and its 200 day moving average price is C$124.06. EQB Inc. has a 12 month low of C$83.93 and a 12 month 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 (EPS) for the quarter. The firm had revenue of C$393.04 million for the quarter. EQB had a negative return on equity of 0.07% and a negative net margin of 0.08%. As a group, equities analysts expect that EQB Inc. will post 12.5988235 EPS for the current fiscal year.

EQB Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were paid a dividend of $0.61 per share. 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 of this dividend was Monday, June 15th. EQB's payout ratio is currently -828.57%.

Analyst Ratings Changes

Several brokerages have recently weighed in on EQB. Scotiabank dropped their price objective on shares of EQB from C$141.00 to C$135.00 in a report on Monday, August 31st. Raymond James Financial lowered EQB from a "hold" rating to a "strong sell" rating and decreased their target price for the company from C$136.00 to C$120.00 in a research report on Friday, August 28th. Desjardins lowered their target price on EQB from C$155.00 to C$150.00 and set a "buy" rating on the stock in a research report on Friday, August 28th. National Bank Financial raised their price target on shares of EQB from C$120.00 to C$143.00 and gave the company a "sector perform" rating in a research report on Thursday, August 13th. Finally, TD upped their target price on shares of EQB from C$123.00 to C$154.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average 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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