Raymond James Financial Forecasts Strong Price Appreciation for EQB (TSE:EQB) Stock

Key Points

• Raymond James raised EQB’s price target to C$136 from C$123 while maintaining a “sector perform” rating, implying 2.82% downside from the prior close.
• Analyst sentiment remains mixed: EQB has five Buy ratings and six Hold ratings, producing an average rating of “Hold” and a consensus price target of C$130.10.
• EQB traded at C$139.94, with a C$4.96 billion market capitalization, after reporting quarterly earnings of C$2.03 per share and revenue of C$302.36 million. Insiders own 29.02% of the company and made both purchases and sales during the latest quarter.

EQB (TSE:EQB - Get Free Report) had its price objective increased by Raymond James Financial from C$123.00 to C$136.00 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Raymond James Financial's price target indicates a potential downside of 2.82% from the company's previous close.

Several other research analysts also recently commented on EQB. 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 report on Thursday. Scotiabank upped their price target on shares of EQB from C$122.00 to C$125.00 and gave the stock a "sector perform" rating in a report on Monday, June 1st. TD lowered their price objective on EQB from C$132.00 to C$123.00 and set a "buy" rating on the stock in a research report on Thursday, May 28th. Jefferies Financial Group lifted their price objective on EQB from C$110.00 to C$112.00 in a research note on Wednesday, May 20th. Finally, Desjardins boosted their target price on EQB from C$132.00 to C$155.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of C$130.10.

EQB Price Performance

EQB stock traded down C$1.68 during mid-day trading on Thursday, reaching C$139.94. 74,803 shares of the company traded hands, compared to its average volume of 118,128. The company has a market capitalization of C$4.96 billion, a P/E ratio of 27.49, a P/E/G ratio of 0.34 and a beta of 0.92. EQB has a 52-week low of C$83.93 and a 52-week high of C$150.32. The company has a fifty day moving average price of C$133.46 and a 200-day moving average price of C$121.50.

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

Insider Transactions at EQB

In related news, insider Gavin Stanley sold 900 shares of the firm's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of C$137.37, for a total transaction of C$123,633.00. Following the transaction, the insider directly owned 2,238 shares of the company's stock, valued at approximately C$307,434.06. This trade represents a 28.68% decrease in their position. Also, Director Darren Lorimer sold 1,850 shares of the business's stock in a transaction that occurred on Thursday, July 16th. The stock was sold at an average price of C$149.00, for a total value of C$275,650.00. Following the completion of the sale, the director owned 5,138 shares of the company's stock, valued at C$765,562. The trade was a 26.47% decrease in their position. In the last quarter, insiders purchased 38,100 shares of company stock valued at $5,407,348 and sold 7,484 shares valued at $1,069,719. Corporate insiders own 29.02% of the company's stock.

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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