EQB (TSE:EQB) Stock Gets Price Target Trim from Desjardins

EQB (TSE:EQB) had its price objective cut by research analysts at Desjardins from C$150.00 to C$145.00 in a research report issued on Wednesday, BayStreet reports. The brokerage currently has a “buy” rating on the stock. Desjardins‘s target price suggests a potential upside of 13.75% from the stock’s current price.

A number of other analysts have also recently weighed in on EQB. Royal Bank Of Canada raised their price objective on shares of EQB from C$131.00 to C$146.00 and gave the stock an “outperform” rating in a report on Friday, August 28th. Raymond James Financial upgraded shares of EQB from a “strong sell” rating to a “hold” rating and boosted their price objective for the stock from C$120.00 to C$124.00 in a research report on Tuesday, November 3rd. National Bank Financial upped their target price on shares of EQB from C$120.00 to C$143.00 and gave the company a “sector perform” rating in a report on Thursday, August 13th. TD increased their target price on shares of EQB from C$123.00 to C$154.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Finally, Canadian Imperial Bank of Commerce dropped their target price on shares of EQB from C$165.00 to C$154.00 and set an “outperformer” rating on the stock in a research report on Friday, August 28th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, EQB has a consensus rating of “Moderate Buy” and a consensus price target of C$139.00.

EQB Price Performance

Shares of TSE EQB traded up C$0.21 during midday trading on Wednesday, hitting C$127.47. 9,662 shares of the company’s stock were exchanged, compared to its average volume of 120,864. EQB has a twelve month low of C$83.93 and a twelve month high of C$150.32. The company has a market cap of C$5.43 billion, a PE ratio of -455.25, a P/E/G ratio of 0.34 and a beta of 0.71. The firm’s fifty day simple moving average is C$123.89 and its 200-day simple moving average is C$122.91.

EQB (TSE:EQB) last posted its earnings results on Wednesday, August 26th. The company reported C$2.12 earnings per share for the quarter. The firm had revenue of C$393.04 million during the quarter. EQB had a negative return on equity of 0.07% and a negative net margin of 0.08%. Equities analysts anticipate that EQB will post 12.60 EPS for the current fiscal year.

Insider Activity

In related news, Director Andrew Michael Bunston acquired 200 shares of EQB stock in a transaction on Tuesday, September 22nd. The stock was purchased at an average cost of C$126.37 per share, with a total value of C$25,274.00. Following the purchase, the director directly owned 200 shares in the company, valued at approximately C$25,274. The trade was a ∞ increase in their ownership of the stock. Also, insider Loblaw Companies Limited acquired 8,000 shares of EQB stock in a transaction on Friday, September 25th. The shares were bought at an average cost of C$127.05 per share, with a total value of C$1,016,400.00. Following the completion of the purchase, the insider owned 1,780,100 shares in the company, valued at C$226,161,705. The trade was a 0.45% increase in their ownership of the stock. Insiders have bought 184,200 shares of company stock valued at $23,628,874 in the last quarter. Insiders own 29.02% of the company’s stock.

EQB Company Profile

EQB Inc. (TSX: EQB) is a leading Canadian financial services company with approximately $151 billion in combined assets under management and administration. It is the parent company of Equitable Bank, the country’s seventh largest Schedule I bank by assets, which operates EQ Bank, Canada’s Challenger Bank. Our purpose is to remake banking so every Canadian gets ahead, every day. Since 1970, we have built thoughtful financial solutions that serve more than 4 million customers, turning everyday moments into meaningful progress.