EQB (TSE:EQB) Reaches New 1-Year High – Here’s What Happened

EQB Inc. (TSE:EQB)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$131.83 and last traded at C$131.41, with a volume of 46318 shares trading hands. The stock had previously closed at C$128.35.

Analyst Ratings Changes

A number of equities analysts have weighed in on EQB shares. Scotiabank upped their price objective on shares of EQB from C$122.00 to C$125.00 and gave the stock a “sector perform” rating in a research report on Monday, June 1st. Raymond James Financial dropped their target price on shares of EQB from C$127.00 to C$123.00 and set a “market perform” rating on the stock in a research report on Friday, May 29th. Jefferies Financial Group boosted their target price on shares of EQB from C$110.00 to C$112.00 in a research note on Wednesday, May 20th. Desjardins increased their target price on EQB from C$130.00 to C$132.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Finally, National Bank Financial set a C$120.00 target price on EQB and gave the company a “sector perform” rating in a research report on Friday, May 15th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$122.50.

EQB Trading Up 2.4%

The company has a fifty day moving average of C$120.07 and a 200-day moving average of C$113.28. The stock has a market cap of C$4.81 billion, a PE ratio of 25.82, a P/E/G ratio of 0.34 and a beta of 1.01.

EQB (TSE:EQB) last issued its quarterly earnings results on Wednesday, May 27th. The company reported C$2.03 earnings per share (EPS) for the quarter. EQB had a net margin of 6.61% and a return on equity of 6.16%. The company had revenue of C$302.36 million for the quarter. As a group, research analysts anticipate that EQB Inc. will post 12.5988235 earnings per share for the current fiscal year.

EQB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.44 annualized dividend and a dividend yield of 1.9%. This is an increase from EQB’s previous quarterly dividend of $0.59. EQB’s payout ratio is currently 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.