EQB Inc. (TSE:EQB) Receives C$113.63 Average Target Price from Analysts

EQB Inc. (TSE:EQB) has received a consensus recommendation of “Hold” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is C$113.63.

EQB has been the topic of several recent analyst reports. CIBC boosted their price target on EQB from C$113.00 to C$130.00 in a research note on Tuesday, November 26th. Cormark downgraded shares of EQB from a “buy” rating to a “market perform” rating and dropped their target price for the company from C$131.00 to C$110.00 in a research report on Thursday, December 5th. TD Securities cut shares of EQB from a “buy” rating to a “hold” rating and reduced their price target for the stock from C$126.00 to C$110.00 in a report on Friday, December 6th. BMO Capital Markets lifted their price target on shares of EQB from C$106.00 to C$119.00 in a research note on Monday, November 18th. Finally, Scotiabank cut their price objective on shares of EQB from C$135.00 to C$130.00 in a research report on Friday, December 6th.

EQB Price Performance

Shares of TSE:EQB opened at C$98.66 on Wednesday. EQB has a 1 year low of C$78.24 and a 1 year high of C$113.20. The business’s 50-day moving average is C$105.46 and its 200-day moving average is C$100.03. The company has a market capitalization of C$3.79 billion, a price-to-earnings ratio of 10.36, a P/E/G ratio of 0.34 and a beta of 1.59.

EQB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.49 per share. The ex-dividend date is Friday, December 13th. This is an increase from EQB’s previous quarterly dividend of $0.47. This represents a $1.96 annualized dividend and a dividend yield of 1.99%. EQB’s payout ratio is presently 19.75%.

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.