Insider Buying: EQB (TSE:EQB) Insider Acquires 16,000 Shares

EQB Inc. (TSE:EQB) insider Loblaw Companies Limited purchased 16,000 shares of EQB stock in a transaction dated Tuesday, September 8th. The stock was bought at an average price of C$130.24 per share, with a total value of C$2,083,840.00. Following the completion of the purchase, the insider directly owned 1,580,100 shares of the company’s stock, valued at approximately C$205,792,224. This trade represents a 1.02% increase in their ownership of the stock.

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

• On Thursday, September 10th, Loblaw Companies Limited acquired 16,000 shares of EQB stock. The shares were bought at an average price of C$128.16 per share, for a total transaction of C$2,050,560.00.
• On Monday, August 31st, Loblaw Companies Limited bought 16,000 shares of EQB stock. The stock was bought at an average price of C$126.79 per share, for a total transaction of C$2,028,640.00.
• On Wednesday, September 2nd, Loblaw Companies Limited bought 16,000 shares of EQB stock. The shares were bought at an average price of C$127.81 per share, with a total value of C$2,044,960.00.
• On Thursday, September 3rd, Loblaw Companies Limited purchased 8,000 shares of EQB stock. The shares were purchased at an average cost of C$133.12 per share, for a total transaction of C$1,064,960.00.
• On Monday, August 24th, Loblaw Companies Limited purchased 8,000 shares of EQB stock. The stock was purchased at an average price of C$133.47 per share, for a total transaction of C$1,067,760.00.
• On Wednesday, August 26th, Loblaw Companies Limited acquired 8,000 shares of EQB stock. The stock was purchased at an average cost of C$137.01 per share, with a total value of C$1,096,080.00.
• On Thursday, August 27th, Loblaw Companies Limited acquired 16,000 shares of EQB stock. The shares were purchased at an average price of C$124.91 per share, with a total value of C$1,998,560.00.
• On Thursday, August 20th, Loblaw Companies Limited bought 8,000 shares of EQB stock. The stock was purchased at an average cost of C$134.00 per share, for a total transaction of C$1,072,000.00.
• On Tuesday, August 4th, Loblaw Companies Limited purchased 8,000 shares of EQB stock. The shares were purchased at an average price of C$142.40 per share, with a total value of C$1,139,200.00.
• On Thursday, August 6th, Loblaw Companies Limited purchased 8,000 shares of EQB stock. The shares were acquired at an average cost of C$137.62 per share, with a total value of C$1,100,960.00.

EQB Price Performance

Shares of TSE:EQB traded up C$1.65 during trading on Friday, hitting C$130.16. The company’s stock had a trading volume of 37,691 shares, compared to its average volume of 121,321. The company has a 50-day moving average of C$136.93 and a 200-day moving average of C$124.40. EQB Inc. has a 12 month low of C$83.93 and a 12 month high of C$150.32. The firm has a market cap of C$5.54 billion, a price-to-earnings ratio of -464.86, a P/E/G ratio of 0.34 and a beta of 0.83.

EQB (TSE:EQB) last announced its earnings results on Wednesday, August 26th. The company reported C$2.12 earnings per share (EPS) for the quarter. EQB had a negative net margin of 0.08% and a negative return on equity of 0.07%. The company had revenue of C$393.04 million during the quarter. As a group, research 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 will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.9%. This is an increase from EQB’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Tuesday, September 15th. EQB’s dividend payout ratio is -828.57%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Jefferies Financial Group dropped their price objective on shares of EQB from C$128.00 to C$127.00 in a report on Thursday, September 3rd. Raymond James Financial cut EQB from a “hold” rating to a “strong sell” rating and decreased their price objective for the stock from C$136.00 to C$120.00 in a report on Friday, August 28th. National Bank Financial increased their target price on EQB from C$120.00 to C$143.00 and gave the company a “sector perform” rating in a research report on Thursday, August 13th. TD raised their target price on shares of EQB from C$123.00 to C$154.00 and gave the company a “buy” rating in a report on Friday, August 14th. Finally, Scotiabank reduced their price target on shares of EQB from C$141.00 to C$135.00 in a research report on Monday, August 31st. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of C$139.10.

EQB Company Profile

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.