EQB (TSE:EQB) Reaches New 1-Year High Following Dividend Announcement

EQB Inc. (TSE:EQB) shares reached a new 52-week high on Monday following a dividend announcement from the company. The company traded as high as C$99.50 and last traded at C$99.59, with a volume of 16690 shares changing hands. The stock had previously closed at C$98.62.

The newly announced dividend which will be paid on Monday, September 30th. Shareholders of record on Monday, September 30th will be given a dividend of $0.47 per share. This is a positive change from EQB’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Friday, September 13th. EQB’s dividend payout ratio is 20.19%.

Analyst Upgrades and Downgrades

Several research firms have commented on EQB. Royal Bank of Canada upped their price objective on shares of EQB from C$107.00 to C$109.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. CIBC upped their price target on shares of EQB from C$105.00 to C$113.00 in a research note on Friday, September 6th. Cormark reduced their price objective on shares of EQB from C$121.00 to C$111.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Scotiabank reduced their price objective on shares of EQB from C$113.00 to C$109.00 in a research note on Monday, August 19th. Finally, BMO Capital Markets increased their target price on shares of EQB from C$104.00 to C$106.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. 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, the stock currently has an average rating of “Moderate Buy” and an average price target of C$106.56.

EQB Trading Up 0.8 %

The stock has a market cap of C$3.82 billion, a price-to-earnings ratio of 10.59, a P/E/G ratio of 0.34 and a beta of 1.58. The stock’s 50-day moving average price is C$96.05 and its 200-day moving average price is C$89.80.

EQB (TSE:EQB) last issued its quarterly 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. The firm had revenue of C$327.24 million for the quarter, compared to the consensus estimate of C$325.00 million. EQB had a net margin of 39.67% and a return on equity of 14.70%. As a group, analysts predict that EQB Inc. will post 12.5994695 earnings per share for the current year.

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.