EQB (TSE:EQB) Sets New 12-Month High – Should You Buy?

EQB Inc. (TSE:EQB) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as C$109.00 and last traded at C$108.56, with a volume of 23963 shares trading hands. The stock had previously closed at C$107.51.

Analysts Set New Price Targets

Several analysts have commented on EQB shares. TD Securities cut their target price on EQB from C$112.00 to C$109.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Raymond James decreased their target price on EQB from C$110.00 to C$106.00 in a report on Wednesday, August 21st. CIBC raised their price target on EQB from C$105.00 to C$113.00 in a report on Friday, September 6th. Cormark decreased their price target on EQB from C$121.00 to C$111.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, BMO Capital Markets raised their price target on EQB from C$104.00 to C$106.00 and gave the company an “outperform” rating in a report on Friday, August 30th. 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 presently has a consensus rating of “Moderate Buy” and an average target price of C$106.56.

EQB Stock Down 0.3 %

The business has a 50-day moving average price of C$102.29 and a 200-day moving average price of C$94.47. The firm has a market capitalization of C$4.09 billion, a price-to-earnings ratio of 11.21, a P/E/G ratio of 0.34 and a beta of 1.59.

EQB (TSE:EQB) last posted its quarterly earnings results on Wednesday, August 28th. The company reported C$2.96 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 analyst estimates of C$325.00 million. On average, equities research analysts forecast that EQB Inc. will post 12.5988235 earnings per share for the current year.

EQB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 30th were paid 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 dividend yield of 1.76%. The ex-dividend date of this dividend was Friday, September 13th. EQB’s dividend payout ratio 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.