EQB (TSE:EQB) Price Target Raised to C$106.00 at BMO Capital Markets

EQB (TSE:EQB) had its target price upped by BMO Capital Markets from C$104.00 to C$106.00 in a research note issued to investors on Friday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Scotiabank lowered their target price on shares of EQB from C$113.00 to C$109.00 in a research note on Monday, August 19th. Raymond James reduced their price objective on shares of EQB from C$110.00 to C$106.00 in a research note on Wednesday, August 21st. Royal Bank of Canada upped their price objective on EQB from C$107.00 to C$109.00 and gave the stock an outperform rating in a research note on Thursday, May 30th. Cormark dropped their price target on EQB from C$121.00 to C$111.00 and set a buy rating for the company in a research note on Thursday, August 29th. Finally, TD Securities lowered their target price on shares of EQB from C$112.00 to C$109.00 and set a buy rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, EQB currently has a consensus rating of Moderate Buy and an average target price of C$105.67.

EQB Price Performance

Shares of EQB stock opened at C$95.38 on Friday. EQB has a 1 year low of C$66.41 and a 1 year high of C$98.88. The firm’s 50-day moving average is C$95.31 and its 200 day moving average is C$89.50. The stock has a market cap of C$3.65 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 0.34 and a beta of 1.58.

EQB (TSE:EQB) last issued its earnings results on Wednesday, August 28th. The company reported C$2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of C$2.93 by C$0.03. EQB had a net margin of 39.67% and a return on equity of 14.70%. The firm had revenue of C$327.24 million for the quarter, compared to the consensus estimate of C$325.00 million. On average, equities analysts expect that EQB will post 11.4413146 EPS for the current fiscal year.

EQB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a dividend of $0.47 per share. This is an increase from EQB’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.88 dividend on an annualized basis and a yield of 1.97%. EQB’s dividend payout ratio is presently 19.33%.

EQB Company Profile

EQB Inc, through its subsidiary, Equitable Bank, provides personal and commercial banking services to retail and commercial customers in Canada. The company accepts term deposits and guaranteed investment certificates, high interest savings accounts, institutional deposit notes and covered bonds, as well as specialized financing solutions.