EQB (TSE:EQB) Sets New 1-Year High – Here’s What Happened

EQB Inc. (TSE:EQB)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as C$115.58 and last traded at C$115.39, with a volume of 19525 shares traded. The stock had previously closed at C$114.32.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Desjardins raised their price objective on EQB from C$107.00 to C$110.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. Raymond James Financial lowered their target price on EQB from C$93.00 to C$91.00 in a report on Friday, December 5th. BMO Capital Markets upgraded EQB from a “hold” rating to an “outperform” rating and raised their price target for the company from C$108.00 to C$130.00 in a research report on Tuesday, January 20th. Veritas upgraded shares of EQB to a “hold” rating in a research report on Monday, December 1st. Finally, Jefferies Financial Group lowered their price objective on shares of EQB from C$107.00 to C$93.00 in a research note on Tuesday, November 25th. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$105.44.

EQB Stock Up 1.2%

The stock has a fifty day moving average price of C$102.79 and a two-hundred day moving average price of C$96.74. The company has a market capitalization of C$4.31 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 0.34 and a beta of 0.74.

EQB (TSE:EQB) last posted its quarterly earnings data on Wednesday, December 3rd. The company reported C$6.56 EPS for the quarter. EQB had a return on equity of 8.52% and a net margin of 13.04%. As a group, research analysts forecast that EQB Inc. will post 12.5988235 earnings per share for the current fiscal year.

EQB Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from EQB’s previous quarterly dividend of $0.55. The ex-dividend date was Monday, December 15th. EQB’s payout ratio is presently 31.28%.

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.