EQB (TSE:EQB) Hits New 1-Year High – Here’s What Happened

EQB Inc. (TSE:EQB) reached a new 52-week high on Tuesday . The company traded as high as C$119.88 and last traded at C$119.32, with a volume of 20375 shares trading hands. The stock had previously closed at C$117.83.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Desjardins lifted their price objective on EQB from C$110.00 to C$125.00 and gave the company a “buy” rating in a report on Monday, February 9th. BMO Capital Markets upgraded EQB from a “hold” rating to an “outperform” rating and upped their price target for the company from C$108.00 to C$130.00 in a research report on Tuesday, January 20th. Veritas raised EQB to a “hold” rating in a report on Monday, December 1st. TD Securities upped their target price on shares of EQB from C$96.00 to C$103.00 and gave the stock a “hold” rating in a report on Friday, December 5th. Finally, Scotiabank lifted their price target on shares of EQB from C$102.00 to C$105.00 in a report on Friday, January 9th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$108.89.

EQB Stock Performance

The stock has a market cap of C$4.48 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 0.34 and a beta of 0.74. The firm’s 50-day simple moving average is C$105.81 and its two-hundred day simple moving average is C$97.25.

EQB (TSE:EQB) last issued its quarterly earnings results on Wednesday, December 3rd. The company reported C$6.56 earnings per share for the quarter. EQB had a net margin of 13.04% and a return on equity of 8.52%. Equities research analysts expect that EQB Inc. will post 12.5988235 earnings per share for the current fiscal year.

EQB Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were issued a $0.57 dividend. This is a positive change from EQB’s previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a yield of 1.9%. The ex-dividend date was Monday, December 15th. EQB’s dividend payout ratio (DPR) is 31.28%.

EQB Company Profile

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.