EQB (TSE:EQB) Issues Earnings Results

EQB (TSE:EQB) released its quarterly earnings data on Wednesday. The company reported C$2.12 EPS for the quarter, FiscalAI reports. EQB had a net margin of 6.61% and a return on equity of 6.16%. The firm had revenue of C$393.04 million for the quarter.

EQB Stock Up 2.4%

EQB stock opened at C$137.87 on Thursday. The firm has a market cap of C$4.89 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 0.34 and a beta of 0.92. The company’s fifty day simple moving average is C$136.91 and its 200 day simple moving average is C$123.50. EQB has a 12-month low of C$83.93 and a 12-month high of C$150.32.

EQB Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 1.8%. This is a boost from EQB’s previous quarterly dividend of $0.59. The ex-dividend date was Monday, June 15th. EQB’s dividend payout ratio is currently 44.01%.

Insiders Place Their Bets

In other EQB news, Director Daniel Broten sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 3rd. The stock was sold at an average price of C$141.74, for a total value of C$212,610.00. Following the transaction, the director directly owned 5,033 shares of the company’s stock, valued at approximately C$713,377.42. The trade was a 22.96% decrease in their ownership of the stock. Also, insider Gavin Stanley sold 900 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of C$137.37, for a total transaction of C$123,633.00. Following the transaction, the insider directly owned 2,238 shares in the company, valued at approximately C$307,434.06. This represents a 28.68% decrease in their ownership of the stock. In the last quarter, insiders bought 46,100 shares of company stock valued at $6,479,348 and sold 7,484 shares valued at $1,069,719. Corporate insiders own 29.02% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Raymond James Financial lifted their price target 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. Scotiabank increased their price target on EQB from C$122.00 to C$125.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Desjardins boosted their price objective on EQB from C$132.00 to C$155.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. National Bank Financial increased their target price on EQB from C$120.00 to C$143.00 and gave the company a “sector perform” rating in a research report on Thursday, August 13th. Finally, TD raised their price objective on shares of EQB from C$123.00 to C$154.00 and gave the company a “buy” rating in a report on Friday, August 14th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$138.10.

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. 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.