EQB (TSE:EQB) Price Target Cut to C$150.00 by Analysts at TD

EQB (TSE:EQB) had its target price lowered by TD from C$154.00 to C$150.00 in a report published on Friday,BayStreet reports. The firm currently has a buy rating on the stock.

A number of other analysts have also issued reports on EQB. Jefferies Financial Group dropped their price objective on shares of EQB from C$128.00 to C$127.00 in a research note on Thursday, September 3rd. Desjardins decreased their target price on shares of EQB from C$150.00 to C$145.00 and set a “buy” rating for the company in a research note on Wednesday. National Bank Financial raised their price target 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. Royal Bank Of Canada lifted their price target on shares of EQB from C$131.00 to C$146.00 and gave the stock an “outperform” rating in a research note on Friday, August 28th. Finally, Canadian Imperial Bank of Commerce dropped their price target on shares of EQB from C$165.00 to C$154.00 and set an “outperformer” rating on the stock in a research note on Friday, August 28th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$138.60.

EQB Price Performance

TSE:EQB opened at C$128.50 on Friday. The business’s 50-day moving average is C$123.86 and its two-hundred day moving average is C$123.24. The firm has a market capitalization of C$5.47 billion, a PE ratio of -458.93, a price-to-earnings-growth ratio of 0.34 and a beta of 0.71. EQB has a 12 month low of C$83.93 and a 12 month high of C$150.32.

EQB (TSE:EQB) last posted its earnings results on Wednesday, August 26th. The company reported C$2.12 earnings per share (EPS) for the quarter. The business 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 year.

EQB Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were paid a dividend of $0.63 per share. This is a positive change from EQB’s previous quarterly dividend of $0.61. The ex-dividend date was Tuesday, September 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.0%. EQB’s payout ratio is currently -828.57%.

Insiders Place Their Bets

In related news, insider Loblaw Companies Limited bought 16,000 shares of the company’s stock in a transaction dated Tuesday, September 15th. The stock was bought at an average price of C$126.95 per share, with a total value of C$2,031,200.00. Following the transaction, the insider owned 1,660,100 shares of the company’s stock, valued at approximately C$210,749,695. This trade represents a 0.97% increase in their ownership of the stock. Over the last ninety days, insiders have acquired 184,200 shares of company stock worth $23,628,874. 29.02% of the stock is owned by company insiders.

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.