EQB Inc. (TSE:EQB) Receives C$106.56 Consensus Target Price from Brokerages

EQB Inc. (TSE:EQB) has been assigned an average rating of “Moderate Buy” from the ten research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is C$106.56.

A number of analysts have weighed in on the company. Cormark lowered their target price on EQB from C$121.00 to C$111.00 and set a “buy” rating for the company in a report on Thursday, August 29th. CIBC upped their price objective on EQB from C$105.00 to C$113.00 in a research note on Friday, September 6th. Scotiabank cut their target price on EQB from C$113.00 to C$109.00 in a research note on Monday, August 19th. TD Securities decreased their price target on shares of EQB from C$112.00 to C$109.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Finally, Raymond James cut their price objective on shares of EQB from C$110.00 to C$106.00 in a research report on Wednesday, August 21st.

EQB Price Performance

EQB stock opened at C$108.34 on Friday. EQB has a 1-year low of C$66.41 and a 1-year high of C$108.71. The business has a 50-day moving average price of C$99.92 and a 200 day moving average price of C$93.01. The company has a market capitalization of C$4.16 billion, a P/E ratio of 11.38, a PEG ratio of 0.34 and a beta of 1.59.

EQB (TSE:EQB) last posted its quarterly earnings results on Wednesday, August 28th. The company reported C$2.96 EPS for the quarter, beating the consensus estimate of C$2.93 by C$0.03. EQB had a net margin of 39.67% and a return on equity of 14.70%. The business had revenue of C$327.24 million during the quarter, compared to analyst estimates of C$325.00 million. On average, analysts anticipate that EQB will post 12.5988235 earnings per share for the current fiscal year.

EQB Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 30th were paid a $0.47 dividend. The ex-dividend date was Friday, September 13th. This is a boost from EQB’s previous quarterly dividend of $0.45. This represents a $1.88 dividend on an annualized basis and a yield of 1.74%. EQB’s dividend payout ratio (DPR) is 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.