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

Key Points

• Loblaw Companies Limited purchased 8,000 EQB shares at an average price of C$142.40, investing C$1.14 million and increasing its holdings to 1.33 million shares. The company has made several additional EQB purchases recently.
• EQB shares rose 0.9% to C$139.33, with the stock trading well above its 50-day and 200-day moving averages. EQB reported quarterly earnings of C$2.03 per share on revenue of C$302.36 million.
• EQB increased its quarterly dividend to C$0.61 per share, equivalent to an annualized C$2.44 and a 1.8% yield. Analysts maintain a consensus “Hold” rating, with an average price target of C$124.80.

EQB Inc. (TSE:EQB - Get Free Report) insider Loblaw Companies Limited bought 8,000 shares of EQB stock in a transaction that occurred on Tuesday, August 4th. The stock was purchased at an average cost of C$142.40 per share, for a total transaction of C$1,139,200.00. Following the acquisition, the insider owned 1,330,100 shares of the company's stock, valued at C$189,406,240. This represents a 0.61% increase in their ownership of the stock.

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

• On Thursday, August 6th, Loblaw Companies Limited acquired 8,000 shares of EQB stock. The stock was purchased 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 purchased at an average price of C$143.88 per share, with a total value 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.
• On Monday, July 20th, Loblaw Companies Limited bought 8,000 shares of EQB stock. The shares were acquired at an average price of C$141.57 per share, with a total value of C$1,132,560.00.

EQB Stock Up 0.9%

EQB traded up C$1.30 on Friday, reaching C$139.33. The company's stock had a trading volume of 20,476 shares, compared to its average volume of 119,431. The stock has a 50 day moving average of C$131.55 and a two-hundred day moving average of C$120.55. The company has a market capitalization of C$4.94 billion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 0.34 and a beta of 0.92. EQB Inc. has a fifty-two week low of C$83.93 and a fifty-two week high of C$150.32.

EQB (TSE:EQB - Get Free Report) last released its quarterly earnings data on Wednesday, May 27th. The company reported C$2.03 earnings per share for the quarter. The company had revenue of C$302.36 million for the quarter. EQB had a net margin of 6.61% and a return on equity of 6.16%. As a group, analysts anticipate that EQB Inc. will post 12.5988235 earnings per share for the current fiscal year.

EQB Increases Dividend

The business also recently declared 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. The ex-dividend date was Monday, June 15th. This represents a $2.44 annualized dividend and a yield of 1.8%. This is an increase from EQB's previous quarterly dividend of $0.59. EQB's dividend payout ratio (DPR) is 44.01%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Desjardins raised their price objective on EQB from C$132.00 to C$155.00 and gave the stock a "buy" rating in a report on Wednesday. TD decreased their target price on EQB from C$132.00 to C$123.00 and set a "buy" rating for the company in a research report on Thursday, May 28th. Jefferies Financial Group raised their price target on EQB from C$110.00 to C$112.00 in a research note on Wednesday, May 20th. Scotiabank lifted their price target on EQB from C$122.00 to C$125.00 and gave the stock a "sector perform" rating in a research report on Monday, June 1st. Finally, Raymond James Financial lowered their price objective on shares of EQB from C$127.00 to C$123.00 and set a "market perform" rating on the stock in a research report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, EQB presently has a consensus rating of "Hold" and an average price target of C$124.80.

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.

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