EQB (TSE:EQB) Stock Passes Above Fifty Day Moving Average – Here’s Why

EQB Inc. (TSE:EQB) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$104.85 and traded as high as C$108.87. EQB shares last traded at C$107.87, with a volume of 51,727 shares traded.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EQB. Scotiabank decreased their target price on EQB from C$113.00 to C$109.00 in a research note on Monday, August 19th. Raymond James dropped their target price on shares of EQB from C$110.00 to C$106.00 in a research report on Wednesday, August 21st. BMO Capital Markets boosted their price target on shares of EQB from C$104.00 to C$106.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. CIBC upped their price objective on shares of EQB from C$105.00 to C$113.00 in a research note on Friday, September 6th. Finally, Cormark reduced their target price on EQB from C$121.00 to C$111.00 and set a “buy” rating for the company in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. According to MarketBeat, EQB presently has a consensus rating of “Moderate Buy” and an average target price of C$106.56.

EQB Trading Down 1.0 %

The firm has a 50 day simple moving average of C$104.85 and a two-hundred day simple moving average of C$96.18. The company has a market capitalization of C$4.14 billion, a PE ratio of 11.33, a P/E/G ratio of 0.34 and a beta of 1.59.

EQB (TSE:EQB) last announced its quarterly earnings data on Wednesday, August 28th. The company reported C$2.96 earnings per share (EPS) for the quarter, beating 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 company had revenue of C$327.24 million for the quarter, compared to analysts’ expectations of C$325.00 million. Research analysts expect that EQB Inc. will post 12.5988235 earnings per share for the current fiscal year.

EQB Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 30th were given a $0.47 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.88 dividend on an annualized basis and a yield of 1.74%. This is an increase from EQB’s previous quarterly dividend of $0.45. EQB’s dividend payout ratio (DPR) is presently 19.75%.

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.