Insider Buying: EQB (TSE:EQB) Insider Acquires C$1,096,080.00 in Stock

EQB Inc. (TSE:EQB) insider Loblaw Companies Limited bought 8,000 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was bought at an average cost of C$137.01 per share, with a total value of C$1,096,080.00. Following the completion of the acquisition, the insider owned 1,458,100 shares of the company’s stock, valued at C$199,774,281. This represents a 0.55% increase in their position.

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

• On Monday, August 24th, Loblaw Companies Limited purchased 8,000 shares of EQB stock. The shares were purchased at an average cost of C$133.47 per share, for a total transaction of C$1,067,760.00.
• On Thursday, August 27th, Loblaw Companies Limited purchased 16,000 shares of EQB stock. The stock was purchased at an average price of C$124.91 per share, for a total transaction of C$1,998,560.00.
• On Thursday, August 20th, Loblaw Companies Limited purchased 8,000 shares of EQB stock. The stock was purchased at an average price of C$134.00 per share, for a total transaction of C$1,072,000.00.
• On Tuesday, August 4th, Loblaw Companies Limited acquired 8,000 shares of EQB stock. The stock was purchased 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 shares were purchased at an average cost of C$137.62 per share, with a total value 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, for a total transaction of C$877,668.00.
• On Friday, July 17th, Loblaw Companies Limited bought 8,000 shares of EQB stock. The stock was purchased at an average cost of C$144.62 per share, for a total transaction of C$1,156,960.00.
• On Monday, July 20th, Loblaw Companies Limited purchased 8,000 shares of EQB stock. The stock was purchased at an average price of C$141.57 per share, with a total value of C$1,132,560.00.

EQB Price Performance

TSE:EQB opened at C$125.60 on Monday. The company has a market capitalization of C$5.35 billion, a PE ratio of -448.57, a price-to-earnings-growth ratio of 0.34 and a beta of 0.92. EQB Inc. has a 52-week low of C$83.93 and a 52-week high of C$150.32. The stock has a fifty day simple moving average of C$136.98 and a 200-day simple moving average of C$123.66.

EQB (TSE:EQB) last issued its quarterly earnings data on Wednesday, August 26th. The company reported C$2.12 EPS for the quarter. EQB had a negative net margin of 0.08% and a negative return on equity of 0.07%. The firm had revenue of C$393.04 million for the quarter. As a group, equities analysts anticipate that EQB Inc. will post 12.5988235 earnings per share for the current year.

EQB Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were given a dividend of $0.61 per share. The ex-dividend date was Monday, June 15th. This represents a $2.44 annualized dividend and a dividend yield of 1.9%. This is an increase from EQB’s previous quarterly dividend of $0.59. EQB’s payout ratio is presently -828.57%.

Trending Headlines about EQB

Here are the key news stories impacting EQB this week:

• Positive Sentiment: Insider buying signals confidence: Loblaw Companies Limited purchased a combined 32,000 EQB shares in three transactions on August 24, 26 and 27, spending approximately C$4.2 million. Its ownership rose to 1.47 million shares, potentially providing a positive signal about the long-term outlook. EQB insider trading report
• Positive Sentiment: Several analysts remain bullish: BMO Capital maintained a Buy rating and C$145 target, while RBC raised its target to C$146 and kept an Outperform rating. Desjardins and CIBC also retained positive ratings with C$150 and C$154 targets, respectively. These targets imply substantial potential upside if EQB successfully integrates PC Financial. BMO analyst rating
• Neutral Sentiment: Analyst views are mixed: Raymond James downgraded EQB to Underperform and cut its price target to C$120 from C$136, offsetting the more optimistic recommendations from other banks. EQB analyst ratings
• Negative Sentiment: Third-quarter results raised credit concerns: EQB reported a C$127 million net loss after recording a C$219 million provision for credit losses tied largely to the PC Financial transaction. Although revenue reached C$393.04 million and adjusted EPS was reported at C$2.12, the large provision weakened profitability and reduced return on equity to 6.16%. MarketWatch EQB third-quarter loss article
• Negative Sentiment: Near-term execution risk has increased: Investors are weighing whether PC Financial’s expected diversification of deposits and revenue will ultimately offset integration costs and credit losses. The earnings-related decline reflects skepticism about the acquisition’s immediate financial impact. Investment Executive EQB results article

Analyst Upgrades and Downgrades

Several research analysts have weighed in on EQB shares. National Bank Financial boosted their price target on EQB from C$120.00 to C$143.00 and gave the company a “sector perform” rating in a report on Thursday, August 13th. Jefferies Financial Group raised their target price on EQB from C$122.00 to C$129.00 and gave the company a “hold” rating in a report on Thursday, August 13th. TD boosted their price objective on shares of EQB from C$123.00 to C$154.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Raymond James Financial cut EQB from a “market perform” rating to an “underperform” rating and reduced their target price for the company from C$136.00 to C$120.00 in a research note on Friday. Finally, Canadian Imperial Bank of Commerce cut their price objective on EQB from C$165.00 to C$154.00 and set an “outperformer” rating on the stock in a research note on Friday. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$138.30.

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.