EQB (TSE:EQB) Stock Crosses Below 200 Day Moving Average – Here’s Why

EQB Inc. (TSE:EQB)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$101.89 and traded as low as C$95.04. EQB shares last traded at C$95.38, with a volume of 60,741 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently issued reports on EQB shares. Jefferies Financial Group reduced their price target on shares of EQB from C$126.00 to C$107.00 in a research report on Monday, April 21st. Raymond James upped their target price on shares of EQB from C$112.00 to C$121.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Royal Bank of Canada lowered their price target on shares of EQB from C$153.00 to C$147.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. National Bankshares boosted their price objective on shares of EQB from C$109.00 to C$117.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Finally, Scotiabank lowered their target price on EQB from C$130.00 to C$119.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$120.60.

EQB Stock Down 0.5 %

The stock has a market cap of C$3.69 billion, a P/E ratio of 14.87, a PEG ratio of 0.34 and a beta of 1.59. The stock has a fifty day simple moving average of C$94.64 and a 200-day simple moving average of C$101.89.

EQB Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.14%. The ex-dividend date was Friday, March 14th. This is an increase from EQB’s previous quarterly dividend of $0.49. EQB’s dividend payout ratio (DPR) is presently 29.31%.

EQB Company Profile

EQB Inc formerly Equitable Group Inc trades on the Toronto Stock Exchange TSX: EQB and EQB.PR.C and serves over 360000 Canadians through its wholly owned subsidiary Equitable Bank Canadas Challenger Bank. Equitable Bank has grown to become the countrys eighth largest independent Schedule I bank with a clear mandate to drive real change in Canadian banking to enrich peoples lives.