EQB (TSE:EQB) Hits New 12-Month High on Analyst Upgrade

EQB Inc. (TSE:EQB – Get Free Report)’s share price hit a new 52-week high on Monday after TD Securities raised their price target on the stock from C$87.00 to C$88.00. The stock traded as high as C$75.45 and last traded at C$75.37, with a volume of 27055 shares trading hands. The stock had previously closed at C$74.38.

Several other analysts have also weighed in on the stock. Raymond James lifted their target price on shares of EQB from C$87.00 to C$89.00 in a research report on Thursday, May 4th. Royal Bank of Canada lifted their price target on shares of EQB from C$87.00 to C$88.00 and gave the company an “outperform” rating in a report on Wednesday, May 3rd. Finally, National Bankshares lifted their price target on shares of EQB from C$75.00 to C$77.00 and gave the company an “outperform” rating in a report on Tuesday, May 2nd.

Get EQB alerts:

EQB Price Performance

The company has a market capitalization of C$2.81 billion, a P/E ratio of 9.83, a P/E/G ratio of 0.34 and a beta of 1.68. The stock’s 50 day simple moving average is C$67.82 and its two-hundred day simple moving average is C$63.45.

EQB (TSE:EQB – Get Free Report) last announced its earnings results on Tuesday, May 2nd. The company reported C$2.62 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.50 by C$0.12. EQB had a net margin of 34.41% and a return on equity of 12.12%. The company had revenue of C$267.83 million during the quarter. As a group, equities research analysts expect that EQB Inc. will post 10.5919283 earnings per share for the current year.

EQB Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 30th were paid a $0.37 dividend. The ex-dividend date was Wednesday, June 14th. This is an increase from EQB’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.98%. EQB’s payout ratio is currently 19.47%.

About EQB

(Get Free Report)

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.

Further Reading

• Five stocks we like better than EQB
• Is It Time To Take Another Bite Of Chewy, Inc? 
• GreenPower Motor Company Shifts Into High Gear 
• Is the Microsoft Deal Driving Applied Optoelectronics 300% Gain?
• Can Unity Software Sustain The Momentum?
• Nvidia Invested $50 million into This AI Drug Discovery Biotech

Receive News & Ratings for EQB Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQB and related companies with MarketBeat.com's FREE daily email newsletter.