EQB (TSE:EQB) Price Target Cut to C$150.00 by Analysts at Desjardins

EQB (TSE:EQB) had its price objective dropped by investment analysts at Desjardins from C$155.00 to C$150.00 in a research note issued on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ price objective would suggest a potential upside of 20.27% from the stock’s current price.

EQB has been the subject of a number of other reports. National Bank Financial increased their price target 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. Raymond James Financial upped their price objective on EQB from C$123.00 to C$136.00 and gave the company a “sector perform” rating in a research note 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 research report on Thursday, August 13th. TD lifted their target price on EQB from C$123.00 to C$154.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Finally, Scotiabank lifted their target price on EQB from C$122.00 to C$125.00 and gave the stock a “sector perform” rating in a research note on Monday, June 1st. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, EQB currently has a consensus rating of “Hold” and an average price target of C$138.30.

EQB Stock Down 3.2%

EQB stock traded down C$4.07 during trading on Friday, reaching C$124.72. The stock had a trading volume of 158,542 shares, compared to its average volume of 120,470. The company has a market capitalization of C$4.42 billion, a price-to-earnings ratio of 24.50, a P/E/G ratio of 0.34 and a beta of 0.92. EQB has a one year low of C$83.93 and a one year high of C$150.32. The company’s 50 day moving average is C$136.99 and its two-hundred day moving average is C$123.60.

EQB (TSE:EQB) last posted its earnings results on Wednesday, August 26th. The company reported C$2.12 EPS for the quarter. EQB had a net margin of 6.61% and a return on equity of 6.16%. The firm had revenue of C$393.04 million for the quarter. As a group, research analysts predict that EQB will post 12.5988235 earnings per share for the current fiscal year.

Insider Transactions at EQB

In other news, insider Loblaw Companies Limited acquired 8,000 shares of EQB stock in a transaction on Monday, July 20th. The stock was acquired at an average cost of C$141.57 per share, with a total value of C$1,132,560.00. Following the completion of the acquisition, the insider owned 1,250,100 shares in the company, valued at approximately C$176,976,657. This trade represents a 0.64% increase in their ownership of the stock. Also, insider Gavin Stanley sold 900 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of C$137.37, for a total value of C$123,633.00. Following the completion of the sale, the insider directly owned 2,238 shares of the company’s stock, valued at C$307,434.06. This represents a 28.68% decrease in their ownership of the stock. In the last ninety days, insiders have acquired 46,100 shares of company stock worth $6,479,348 and have sold 7,484 shares worth $1,069,719. Insiders own 29.02% of the company’s stock.

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.