EQB (TSE:EQB) Price Target Raised to C$136.00

EQB (TSE:EQB) had its target price upped by Raymond James Financial from C$123.00 to C$136.00 in a report published on Thursday morning,BayStreet.CA reports. They currently have a sector perform rating on the stock.

A number of other equities analysts also recently issued reports on the stock. Desjardins increased their price target on shares of EQB from C$132.00 to C$155.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Scotiabank boosted their price objective 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. Jefferies Financial Group upped their target price on shares of EQB from C$110.00 to C$112.00 in a research report on Wednesday, May 20th. National Bank Financial increased their target price 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. Finally, TD reduced their price target on shares of EQB from C$132.00 to C$123.00 and set a “buy” rating for the company in a research report on Thursday, May 28th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of C$133.20.

EQB Price Performance

Shares of EQB stock opened at C$142.00 on Thursday. The business’s fifty day moving average price is C$134.35 and its 200 day moving average price is C$121.86. The firm has a market capitalization of C$5.03 billion, a PE ratio of 27.90, a P/E/G ratio of 0.34 and a beta of 0.92. EQB has a 1-year low of C$83.93 and a 1-year high of C$150.32.

EQB (TSE:EQB) last released its earnings results on Wednesday, May 27th. The company reported C$2.03 EPS for the quarter. The company had revenue of C$302.36 million during the quarter. EQB had a return on equity of 6.16% and a net margin of 6.61%. Equities research analysts expect that EQB will post 12.5988235 earnings per share for the current fiscal year.

EQB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 1.7%. This is a positive change from EQB’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Monday, June 15th. EQB’s dividend payout ratio is currently 44.01%.

Insider Transactions at EQB

In other news, insider Gavin Stanley sold 900 shares of EQB stock in a transaction on 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 completion of the transaction, the insider owned 2,238 shares of the company’s stock, valued at C$307,434.06. The trade was a 28.68% decrease in their position. Also, insider Loblaw Companies Limited purchased 8,000 shares of the business’s stock in a transaction dated Monday, July 20th. The shares were purchased at an average cost of C$141.57 per share, with a total value of C$1,132,560.00. Following the purchase, the insider directly owned 1,250,100 shares in the company, valued at approximately C$176,976,657. The trade was a 0.64% increase in their ownership of the stock. In the last three months, insiders have acquired 38,100 shares of company stock worth $5,407,348 and have sold 7,484 shares worth $1,069,719. 29.02% of the stock is currently owned by corporate insiders.

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.