EQB (TSE:EQB) Price Target Raised to C$119.00 at BMO Capital Markets

EQB (TSE:EQB) had its price target hoisted by BMO Capital Markets from C$106.00 to C$119.00 in a report released on Monday,BayStreet.CA reports.

Other equities research analysts have also recently issued research reports about the company. Raymond James cut their target price on EQB from C$110.00 to C$106.00 in a research note on Wednesday, August 21st. TD Securities decreased 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 research report on Friday, August 30th. CIBC lifted their price target on shares of EQB from C$105.00 to C$113.00 in a research report on Friday, September 6th. Scotiabank decreased their price objective on shares of EQB from C$113.00 to C$109.00 in a report on Monday, August 19th. Finally, Cormark lowered their price objective on shares of EQB from C$121.00 to C$111.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, EQB currently has a consensus rating of “Moderate Buy” and a consensus target price of C$108.00.

EQB Price Performance

Shares of EQB stock opened at C$108.63 on Monday. EQB has a 1-year low of C$71.90 and a 1-year high of C$109.80. The stock has a market cap of C$4.17 billion, a P/E ratio of 11.41, a P/E/G ratio of 0.34 and a beta of 1.59. The stock’s 50 day simple moving average is C$105.05 and its 200-day simple moving average is C$96.43.

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 analysts’ consensus estimates of C$2.93 by C$0.03. EQB had a return on equity of 14.70% and a net margin of 39.67%. The business had revenue of C$327.24 million during the quarter, compared to the consensus estimate of C$325.00 million. As a group, research analysts expect that EQB will post 12.5988235 EPS for the current fiscal year.

EQB Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 30th were given a $0.47 dividend. The ex-dividend date of this dividend was Friday, September 13th. This is an increase from EQB’s previous quarterly dividend of $0.45. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.73%. EQB’s dividend payout ratio is currently 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.