CIBC Issues Positive Forecast for EQB (TSE:EQB) Stock Price

EQB (TSE:EQB) had its target price lifted by CIBC from C$113.00 to C$130.00 in a research note published on Tuesday,BayStreet.CA reports.

Other analysts have also recently issued research reports about the stock. TD Securities reduced their price objective on shares of EQB from C$112.00 to C$109.00 and set a “buy” rating for the company in a research note on Friday, August 30th. BMO Capital Markets lifted their price objective on EQB from C$106.00 to C$119.00 in a report on Monday, November 18th. Raymond James cut their price target on EQB from C$110.00 to C$106.00 in a research note on Wednesday, August 21st. Scotiabank increased their price objective on shares of EQB from C$109.00 to C$135.00 in a research note on Monday, November 25th. Finally, Cormark reduced their price target on shares of EQB from C$121.00 to C$111.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$114.25.

EQB Trading Up 0.9 %

Shares of EQB stock opened at C$112.50 on Tuesday. The stock has a 50 day simple moving average of C$106.79 and a 200-day simple moving average of C$97.63. The company has a market cap of C$4.32 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59. EQB has a 12-month low of C$75.21 and a 12-month high of C$112.83.

EQB (TSE:EQB) last released its quarterly earnings data on Wednesday, August 28th. The company reported C$2.96 earnings per share (EPS) 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 analysts’ expectations of C$325.00 million. EQB had a return on equity of 14.70% and a net margin of 39.67%. On average, equities analysts forecast 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 Monday, September 30th. Shareholders of record on Monday, September 30th were paid a $0.47 dividend. This is a boost from EQB’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Friday, September 13th. EQB’s payout ratio is presently 19.75%.

About EQB

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.