EQB (TSE:EQB) Stock Crosses Below Two Hundred Day Moving Average – Here’s Why

Shares of EQB Inc. (TSE:EQB) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$99.77 and traded as low as C$91.41. EQB shares last traded at C$92.78, with a volume of 73,225 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Desjardins dropped their price objective on shares of EQB from C$130.00 to C$126.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Royal Bank of Canada lowered their price target on shares of EQB from C$153.00 to C$147.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. CIBC dropped their price target on EQB from C$130.00 to C$126.00 in a research report on Thursday, May 22nd. National Bankshares reduced their price objective on EQB from C$117.00 to C$111.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 22nd. Finally, Jefferies Financial Group lowered their price objective on EQB from C$126.00 to C$107.00 in a research note on Monday, April 21st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$119.60.

EQB Price Performance

The firm has a market cap of C$3.59 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59. The company has a 50-day simple moving average of C$93.55 and a 200-day simple moving average of C$99.77.

EQB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 30th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.12 dividend on an annualized basis and a yield of 2.28%. This is a boost from EQB’s previous quarterly dividend of $0.51. EQB’s payout ratio is presently 29.31%.

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.