EQB (TSE:EQB) Sets New 52-Week High – Here’s What Happened

Shares of EQB Inc. (TSE:EQB) reached a new 52-week high on Monday . The company traded as high as C$113.20 and last traded at C$113.20, with a volume of 945 shares. The stock had previously closed at C$112.50.

Analysts Set New Price Targets

EQB has been the topic of a number of research reports. BMO Capital Markets upped their price target on EQB from C$106.00 to C$119.00 in a research note on Monday, November 18th. CIBC boosted their price objective on EQB from C$113.00 to C$130.00 in a report on Tuesday, November 26th. Raymond James decreased their price objective on EQB from C$110.00 to C$106.00 in a report on Wednesday, August 21st. TD Securities decreased their price objective 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. Finally, Cormark decreased their price objective 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$114.25.

EQB Price Performance

The firm has a fifty day moving average price of C$106.98 and a 200-day moving average price of C$98.01. The company has a market capitalization of C$4.29 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59.

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 given a $0.47 dividend. This is an increase from EQB’s previous quarterly dividend of $0.45. This represents a $1.88 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Friday, September 13th. 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.