Equitable Group (TSE:EQB) PT Lowered to C$53.00 at National Bank Financial

Equitable Group (TSE:EQB) had its price target reduced by National Bank Financial from C$120.00 to C$53.00 in a report released on Tuesday, BayStreet.CA reports. National Bank Financial currently has a sector perform rating on the stock.

Several other brokerages have also weighed in on EQB. Royal Bank of Canada lowered Equitable Group from an outperform rating to an underperform rating and decreased their price objective for the stock from C$142.00 to C$61.00 in a report on Thursday, March 19th. TD Securities decreased their price objective on Equitable Group from C$130.00 to C$120.00 and set a buy rating on the stock in a report on Wednesday, February 26th.

Shares of TSE:EQB opened at C$56.23 on Tuesday. Equitable Group has a 1-year low of C$44.57 and a 1-year high of C$121.87. The firm has a market capitalization of $825.96 million and a PE ratio of 4.70. The business’s 50 day moving average is C$88.42 and its 200-day moving average is C$103.82.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a $0.37 dividend. This is a positive change from Equitable Group’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $1.48 annualized dividend and a yield of 2.63%. Equitable Group’s payout ratio is currently 10.78%.

In related news, Senior Officer Joao Da Costa Simoes sold 496 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of C$86.50, for a total value of C$42,904.00. Following the sale, the insider now owns 3,498 shares of the company’s stock, valued at approximately C$302,577.

Equitable Group Company Profile

Equitable Group Inc, through its subsidiary, Equitable Bank, provides various financial services to retail and commercial customers in Canada. The company accepts term deposits and guaranteed investment certificates (GICs), high interest savings accounts (HISAs), tax-free savings accounts, and institutional deposit notes.

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