BMO Capital Markets Issues Positive Forecast for EQB (TSE:EQB) Stock Price

EQB (TSE:EQB) had its target price increased by BMO Capital Markets from C$106.00 to C$119.00 in a report issued on Monday,BayStreet.CA reports.

Other equities research analysts have also issued research reports about the company. Cormark lowered their price objective on EQB from C$121.00 to C$111.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. TD Securities reduced their target price on EQB from C$112.00 to C$109.00 and set a “buy” rating for the company in a report on Friday, August 30th. Scotiabank reduced their price objective on shares of EQB from C$113.00 to C$109.00 in a research note on Monday, August 19th. Raymond James dropped their target price on shares of EQB from C$110.00 to C$106.00 in a report on Wednesday, August 21st. Finally, CIBC upped their price target on EQB from C$105.00 to C$113.00 in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, EQB has an average rating of “Moderate Buy” and an average price target of C$108.00.

EQB Stock Performance

Shares of EQB opened at C$108.63 on Monday. The firm has a 50-day simple moving average of C$105.05 and a 200-day simple moving average of C$96.43. The company has a market capitalization of C$4.17 billion, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59. EQB has a fifty-two week low of C$71.90 and a fifty-two week high of C$109.80.

EQB (TSE:EQB) last issued its quarterly earnings results on Wednesday, August 28th. The company reported C$2.96 earnings per share for the quarter, topping the consensus estimate of C$2.93 by C$0.03. The firm had revenue of C$327.24 million during the quarter, compared to the consensus estimate of C$325.00 million. EQB had a return on equity of 14.70% and a net margin of 39.67%. Equities research analysts forecast that EQB will post 12.5988235 EPS for the current year.

EQB Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 30th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.88 dividend on an annualized basis and a yield of 1.73%. This is an increase from EQB’s previous quarterly dividend of $0.45. EQB’s dividend payout ratio (DPR) is currently 19.75%.

EQB Company Profile

EQB Inc, through its subsidiary, Equitable Bank, provides personal and commercial banking services to retail and commercial customers in Canada. The company accepts term deposits and guaranteed investment certificates, high interest savings accounts, institutional deposit notes and covered bonds, as well as specialized financing solutions.