EQB Inc. (TSE:EQB) Receives C$122.50 Consensus Target Price from Brokerages

EQB Inc. (TSE:EQB) has been assigned a consensus rating of “Hold” from the eleven analysts that are presently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is C$122.50.

EQB has been the subject of several recent research reports. TD Securities reduced their price target on shares of EQB from C$138.00 to C$132.00 in a report on Thursday, February 26th. Raymond James Financial reduced their price target on shares of EQB from C$127.00 to C$123.00 and set a “market perform” rating for the company in a report on Friday, May 29th. National Bank Financial set a C$120.00 price target on shares of EQB and gave the company a “sector perform” rating in a report on Friday, May 15th. TD reduced their price target on shares of EQB from C$132.00 to C$123.00 and set a “buy” rating for the company in a report on Thursday, May 28th. Finally, Scotiabank boosted their price target on shares of EQB from C$122.00 to C$125.00 and gave the company a “sector perform” rating in a report on Monday, June 1st.

EQB Stock Performance

TSE:EQB opened at C$118.84 on Wednesday. EQB has a one year low of C$83.93 and a one year high of C$126.51. The firm has a market cap of C$4.21 billion, a P/E ratio of 23.35, a P/E/G ratio of 0.34 and a beta of 1.01. The firm has a 50-day simple moving average of C$116.67 and a 200-day simple moving average of C$109.38.

EQB (TSE:EQB) last posted its quarterly earnings results on Wednesday, May 27th. The company reported C$2.03 EPS for the quarter. EQB had a net margin of 6.61% and a return on equity of 6.16%. The business had revenue of C$302.36 million during the quarter. On average, research analysts predict that EQB will post 12.5988235 EPS for the current fiscal year.

EQB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be issued a $0.61 dividend. The ex-dividend date is Monday, June 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.1%. This is an increase from EQB’s previous quarterly dividend of $0.59. EQB’s dividend payout ratio (DPR) is presently 44.01%.

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.