Raymond James Financial Cuts EQB (TSE:EQB) Price Target to C$91.00

EQB (TSE:EQB) had its price objective lowered by Raymond James Financial from C$93.00 to C$91.00 in a research note issued to investors on Friday morning,BayStreet.CA reports.

A number of other equities analysts have also weighed in on the stock. Veritas upgraded shares of EQB to a “hold” rating in a report on Monday, December 1st. Royal Bank Of Canada decreased their price target on EQB from C$124.00 to C$112.00 and set an “outperform” rating for the company in a research note on Friday, August 29th. National Bankshares dropped their price objective on EQB from C$104.00 to C$89.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 28th. TD Securities reduced their price objective on EQB from C$105.00 to C$96.00 and set a “hold” rating for the company in a report on Thursday, November 27th. Finally, Jefferies Financial Group decreased their target price on EQB from C$107.00 to C$93.00 in a research report on Tuesday, November 25th. Two investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$101.00.

EQB Price Performance

EQB opened at C$96.71 on Friday. EQB has a one year low of C$83.93 and a one year high of C$114.22. The company has a fifty day moving average price of C$89.38 and a 200-day moving average price of C$94.58. The firm has a market capitalization of C$3.71 billion, a P/E ratio of 10.96, a price-to-earnings-growth ratio of 0.34 and a beta of 0.95.

EQB (TSE:EQB) last issued its earnings results on Wednesday, December 3rd. The company reported C$6.56 earnings per share (EPS) for the quarter. EQB had a net margin of 13.04% and a return on equity of 8.52%. On average, analysts expect that EQB will post 12.5988235 earnings per share for the current year.

EQB Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.55 per share. The ex-dividend date was Monday, September 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.3%. This is an increase from EQB’s previous quarterly dividend of $0.53. EQB’s dividend payout ratio is presently 22.68%.

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.