EQB (TSE:EQB) Reaches New 1-Year High – Here’s Why

EQB Inc. (TSE:EQB)’s share price reached a new 52-week high on Tuesday . The stock traded as high as C$107.97 and last traded at C$107.97, with a volume of 13062 shares changing hands. The stock had previously closed at C$107.09.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on EQB shares. TD Securities lowered their price target on 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. Raymond James lowered their target price on EQB from C$110.00 to C$106.00 in a report on Wednesday, August 21st. BMO Capital Markets boosted their price target on shares of EQB from C$104.00 to C$106.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. CIBC raised their price objective on shares of EQB from C$105.00 to C$113.00 in a research note on Friday, September 6th. Finally, Scotiabank cut their target price on shares of EQB from C$113.00 to C$109.00 in a research note on Monday, August 19th. 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$106.56.

EQB Stock Performance

The company’s 50-day moving average price is C$99.31 and its 200-day moving average price is C$92.73. The firm has a market capitalization of C$4.16 billion, a PE ratio of 11.38, a PEG ratio of 0.34 and a beta of 1.59.

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

EQB Increases Dividend

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