EQB (TSE:EQB) Stock Price Breaks Below 200 Day Moving Average - What's Next?

Key Points

• EQB shares fell below their 200-day moving average, trading as low as C$117.82 versus the C$126.61 average, signaling weakened technical momentum.
• Analyst views are mixed: six analysts rate the stock Buy, four Hold and one Sell, resulting in an overall “Hold” rating and a consensus price target of C$139.10.
• EQB increased its quarterly dividend to C$0.63 per share, or C$2.52 annually, for a 2.1% yield; insiders also purchased more than 200,000 shares over the past 90 days.

EQB Inc. (TSE:EQB - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$126.61 and traded as low as C$117.82. EQB shares last traded at C$118.31, with a volume of 274,793 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have commented on EQB. Canadian Imperial Bank of Commerce decreased their price objective on shares of EQB from C$165.00 to C$154.00 and set an "outperformer" rating on the stock in a report on Friday, August 28th. Royal Bank Of Canada upped their price target on shares of EQB from C$131.00 to C$146.00 and gave the company an "outperform" rating in a research note on Friday, August 28th. Raymond James Financial lowered shares of EQB from a "hold" rating to a "strong sell" rating and decreased their price target for the company from C$136.00 to C$120.00 in a research note on Friday, August 28th. Desjardins lowered their price target on shares of EQB from C$155.00 to C$150.00 and set a "buy" rating on the stock in a report on Friday, August 28th. Finally, TD raised their price objective on shares of EQB from C$123.00 to C$154.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, EQB currently has an average rating of "Hold" and a consensus target price of C$139.10.

EQB Stock Performance

The stock has a market capitalization of C$5.04 billion, a P/E ratio of -422.54, a price-to-earnings-growth ratio of 0.34 and a beta of 0.86. The firm's fifty day simple moving average is C$127.45 and its 200 day simple moving average is C$126.61.

EQB (TSE:EQB - Get Free Report) last issued its earnings results on Wednesday, August 26th. The company reported C$2.12 EPS for the quarter. The company 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%. Analysts anticipate that EQB Inc. will post 12.60 earnings per share for the current fiscal year.

EQB Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were paid a dividend of $0.63 per share. The ex-dividend date was 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 yield of 2.1%. EQB's dividend payout ratio is currently -828.57%.

Insiders Place Their Bets

In other EQB news, Director Andrew Michael Bunston purchased 200 shares of the firm's stock in a transaction dated Tuesday, September 22nd. The shares were bought at an average price of C$126.37 per share, for a total transaction of C$25,274.00. Following the purchase, the director owned 200 shares in the company, valued at approximately C$25,274. This trade represents a ∞ increase in their position. Also, insider Loblaw Companies Limited purchased 8,000 shares of the stock in a transaction dated Friday, September 25th. The shares were acquired at an average cost of C$127.05 per share, with a total value of C$1,016,400.00. Following the acquisition, the insider directly owned 1,780,100 shares in the company, valued at C$226,161,705. This represents a 0.45% increase in their position. In the last ninety days, insiders acquired 200,200 shares of company stock worth $25,869,034. Company insiders own 29.02% of the company's stock.

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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