Canadian Imperial Bank of Commerce Cuts EQB (TSE:EQB) Price Target to C$154.00

EQB (TSE:EQB) had its price target lowered by research analysts at Canadian Imperial Bank of Commerce from C$165.00 to C$154.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has an “outperformer” rating on the stock. Canadian Imperial Bank of Commerce’s price target would indicate a potential upside of 23.48% from the company’s current price.

Other research analysts also recently issued reports about the company. National Bank Financial boosted their price target on EQB from C$120.00 to C$143.00 and gave the company a “sector perform” rating in a report on Thursday, August 13th. Raymond James Financial raised their price objective on shares of EQB from C$123.00 to C$136.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 13th. Desjardins lifted their target price on shares of EQB from C$132.00 to C$155.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Jefferies Financial Group boosted their target price on shares of EQB from C$122.00 to C$129.00 and gave the company a “hold” rating in a research note on Thursday, August 13th. Finally, Scotiabank increased 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. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$138.30.

EQB Stock Down 3.2%

Shares of EQB stock traded down C$4.07 on Friday, hitting C$124.72. The company had a trading volume of 158,542 shares, compared to its average volume of 120,470. The firm has a market cap of C$4.42 billion, a P/E ratio of 24.50, a price-to-earnings-growth ratio of 0.34 and a beta of 0.92. The company has a 50-day moving average price of C$136.99 and a 200-day moving average price of C$123.60. EQB has a twelve month low of C$83.93 and a twelve month high of C$150.32.

EQB (TSE:EQB) last issued its earnings results on Wednesday, August 26th. The company reported C$2.12 EPS for the quarter. The firm had revenue of C$393.04 million for the quarter. EQB had a return on equity of 6.16% and a net margin of 6.61%. Equities research analysts expect that EQB will post 12.5988235 EPS for the current year.

Insiders Place Their Bets

In other EQB news, insider Loblaw Companies Limited purchased 8,000 shares of the stock in a transaction on Monday, July 20th. The shares were bought at an average price of C$141.57 per share, for a total transaction of C$1,132,560.00. Following the completion of the transaction, the insider owned 1,250,100 shares of the company’s stock, valued at C$176,976,657. This trade represents a 0.64% increase in their position. Also, insider Gavin Stanley sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were 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 approximately C$307,434.06. The trade was a 28.68% decrease in their ownership of the stock. Over the last quarter, insiders purchased 46,100 shares of company stock worth $6,479,348 and sold 7,484 shares worth $1,069,719. 29.02% of the stock is 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.