EQB (TSE:EQB) Shares Pass Below 200 Day Moving Average – What’s Next?

EQB Inc. (TSE:EQB) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$104.02 and traded as low as C$94.81. EQB shares last traded at C$96.18, with a volume of 76,009 shares.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Scotiabank decreased their price objective on EQB from C$130.00 to C$119.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Desjardins decreased their price target on shares of EQB from C$130.00 to C$126.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. CIBC upped their price objective on shares of EQB from C$113.00 to C$130.00 in a research note on Tuesday, November 26th. Cormark cut shares of EQB from a “buy” rating to a “market perform” rating and decreased their target price for the stock from C$131.00 to C$110.00 in a research report on Thursday, December 5th. Finally, TD Securities lowered shares of EQB from a “buy” rating to a “hold” rating and cut their price target for the company from C$126.00 to C$110.00 in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$122.80.

EQB Price Performance

The company has a market capitalization of C$3.69 billion, a P/E ratio of 14.89, a PEG ratio of 0.34 and a beta of 1.59. The company has a 50 day moving average of C$103.95 and a 200-day moving average of C$103.90.

EQB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from EQB’s previous quarterly dividend of $0.49. EQB’s dividend payout ratio is currently 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.