EQB (TSE:EQB) Posts Quarterly Earnings Results

EQB (TSE:EQB) issued its earnings results on Wednesday. The company reported C$2.12 earnings per share for the quarter, FiscalAI reports. EQB had a net margin of 6.61% and a return on equity of 6.16%. The business had revenue of C$393.04 million for the quarter.

EQB Stock Down 6.6%

Shares of EQB opened at C$128.79 on Friday. The business’s 50 day moving average price is C$136.99 and its 200-day moving average price is C$123.60. EQB has a 52 week low of C$83.93 and a 52 week high of C$150.32. The stock has a market cap of C$4.56 billion, a P/E ratio of 25.30, a P/E/G ratio of 0.34 and a beta of 0.92.

EQB Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.61 per share. The ex-dividend date was Monday, June 15th. This is a positive change from EQB’s previous quarterly dividend of $0.59. This represents a $2.44 annualized dividend and a dividend yield of 1.9%. EQB’s dividend payout ratio (DPR) is 44.01%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on EQB shares. Jefferies Financial Group lifted their price target on EQB from C$122.00 to C$129.00 and gave the stock a “hold” rating in a report on Thursday, August 13th. Scotiabank upped their price target on shares of EQB from C$122.00 to C$125.00 and gave the stock a “sector perform” rating in a report on Monday, June 1st. National Bank Financial lifted their price objective on EQB from C$120.00 to C$143.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 13th. Raymond James Financial upped their price objective on EQB from C$123.00 to C$136.00 and gave the company a “sector perform” rating in a research note on Thursday, August 13th. Finally, TD lifted their price objective on EQB from C$123.00 to C$154.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$138.10.

Insider Buying and Selling

In related news, Director Darren Lorimer sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, July 16th. The stock was sold at an average price of C$149.24, for a total transaction of C$111,930.00. Following the completion of the transaction, the director owned 6,988 shares of the company’s stock, valued at C$1,042,889.12. This trade represents a 9.69% decrease in their position. Also, insider Gavin Stanley sold 900 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of C$137.37, for a total value of C$123,633.00. Following the completion of the sale, the insider directly owned 2,238 shares in the company, valued at C$307,434.06. This trade represents a 28.68% decrease in their ownership of the stock. In the last 90 days, insiders have purchased 46,100 shares of company stock worth $6,479,348 and have sold 7,484 shares worth $1,069,719. 29.02% of the stock is currently owned by company insiders.

About EQB

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. At Equitable Bank we are as invested in our employees as we are in our business. Thats why we are consistently recognized as one of Canadas Top Employers a rating that comes from our 1300+ employees.