EQB (TSE:EQB) Shares Up 10.5% – Here’s What Happened
by Amy Steele · The Cerbat GemEQB Inc. (TSE:EQB – Get Free Report) was up 10.5% during trading on Thursday . The company traded as high as C$96.62 and last traded at C$96.00. Approximately 143,832 shares were traded during mid-day trading, an increase of 30% from the average daily volume of 110,315 shares. The stock had previously closed at C$86.85.
Analyst Upgrades and Downgrades
Several research firms recently commented on EQB. Jefferies Financial Group cut their target price on shares of EQB from C$107.00 to C$93.00 in a research note on Tuesday, November 25th. National Bankshares cut their price objective on EQB from C$104.00 to C$89.00 and set a “sector perform” rating for the company in a research report on Thursday, August 28th. CIBC decreased their target price on EQB from C$126.00 to C$116.00 and set a “hold” rating on the stock in a report on Friday, August 29th. Royal Bank Of Canada cut their target price on EQB from C$124.00 to C$112.00 and set an “outperform” rating on the stock in a research report on Friday, August 29th. Finally, Desjardins reduced their target price on EQB from C$110.00 to C$103.00 and set a “buy” rating for the company in a report on Friday, August 29th. Two research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$101.00.
Check Out Our Latest Report on EQB
EQB Trading Down 1.3%
The firm’s 50-day simple moving average is C$89.38 and its two-hundred day simple moving average is C$94.59. The stock has a market capitalization of C$3.71 billion, a PE ratio of 10.96, a PEG ratio of 0.34 and a beta of 0.95.
EQB (TSE:EQB – Get Free Report) last issued its earnings results on Wednesday, December 3rd. The company reported C$6.56 EPS for the quarter. EQB had a return on equity of 8.52% and a net margin of 13.04%. As a group, research analysts expect that EQB Inc. will post 12.5988235 earnings per share for the current year.
EQB Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Monday, September 15th. This is a boost from EQB’s previous quarterly dividend of $0.53. EQB’s dividend payout ratio is 22.68%.
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.