EQB (TSE:EQB) Reaches New 52-Week High After Analyst Upgrade

EQB Inc. (TSE:EQB)’s share price reached a new 52-week high during mid-day trading on Monday after Scotiabank raised their price target on the stock from C$109.00 to C$135.00. The stock traded as high as C$111.59 and last traded at C$111.50, with a volume of 10371 shares. The stock had previously closed at C$110.35.

EQB has been the topic of several other research reports. BMO Capital Markets raised their price target on shares of EQB from C$106.00 to C$119.00 in a report on Monday, November 18th. Raymond James decreased their price target on shares of EQB from C$110.00 to C$106.00 in a research report on Wednesday, August 21st. Cormark decreased their price objective on shares of EQB from C$121.00 to C$111.00 and set a “buy” rating for the company in a report on Thursday, August 29th. TD Securities cut their target price on EQB from C$112.00 to C$109.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Finally, CIBC raised their target price on EQB from C$105.00 to C$113.00 in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, EQB currently has an average rating of “Moderate Buy” and an average target price of C$112.13.

EQB Stock Performance

The business’s 50 day simple moving average is C$105.90 and its 200-day simple moving average is C$97.06. The company has a market cap of C$4.24 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59.

EQB (TSE:EQB) last announced its quarterly earnings results on Wednesday, August 28th. The company reported C$2.96 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.93 by C$0.03. The company had revenue of C$327.24 million during the quarter, compared to analysts’ expectations of C$325.00 million. EQB had a return on equity of 14.70% and a net margin of 39.67%. Research analysts expect that EQB Inc. will post 12.5988235 earnings per share for the current year.

EQB Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 30th were given a dividend of $0.47 per share. The ex-dividend date was Friday, September 13th. This represents a $1.88 dividend on an annualized basis and a yield of 1.70%. This is a boost from EQB’s previous quarterly dividend of $0.45. EQB’s dividend payout ratio is presently 19.75%.

About EQB

EQB Inc, through its subsidiary, Equitable Bank, provides personal and commercial banking services to retail and commercial customers in Canada. The company accepts term deposits and guaranteed investment certificates, high interest savings accounts, institutional deposit notes and covered bonds, as well as specialized financing solutions.