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

EQB (TSE:EQB) had its price target decreased by equities researchers at TD from C$154.00 to C$150.00 in a research report issued on Friday, BayStreet reports. The firm currently has a “buy” rating on the stock. TD‘s target price suggests a potential upside of 17.65% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Desjardins dropped their price target on shares of EQB from C$150.00 to C$145.00 and set a “buy” rating for the company in a research report on Wednesday. Raymond James Financial raised shares of EQB from a “strong sell” rating to a “hold” rating and upped their target price for the stock from C$120.00 to C$124.00 in a research report on Tuesday, November 3rd. Jefferies Financial Group reduced their price objective on EQB from C$128.00 to C$127.00 in a research report on Thursday, September 3rd. National Bank Financial lifted their target price on shares of EQB from C$120.00 to C$143.00 and gave the stock a “sector perform” rating in a report on Thursday, August 13th. Finally, Canadian Imperial Bank of Commerce lowered their price target on EQB from C$165.00 to C$154.00 and set an “outperformer” rating on the stock in a report on Friday, August 28th. Six research analysts have rated the stock with a Buy rating and five have assigned 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$138.60.

EQB Trading Down 2.2%

Shares of EQB traded down C$2.91 during mid-day trading on Friday, reaching C$127.50. The company’s stock had a trading volume of 37,635 shares, compared to its average volume of 120,509. EQB has a 52 week low of C$83.93 and a 52 week high of C$150.32. The stock has a market cap of C$5.43 billion, a PE ratio of -455.36, a P/E/G ratio of 0.34 and a beta of 0.71. The company’s fifty day moving average price is C$123.96 and its two-hundred day moving average price is C$123.13.

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

Insider Activity

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