Scotiabank Cuts EQB (TSE:EQB) Price Target to C$109.00

EQB (TSE:EQB) had its target price lowered by Scotiabank from C$113.00 to C$109.00 in a research note published on Monday, BayStreet.CA reports.

EQB has been the topic of a number of other research reports. CIBC upped their target price on EQB from C$100.00 to C$110.00 and gave the stock an outperform rating in a research note on Friday, May 31st. BMO Capital Markets lifted their price objective on EQB from C$102.00 to C$104.00 and gave the stock an outperform rating in a report on Friday, May 31st. Royal Bank of Canada raised their price target on shares of EQB from C$107.00 to C$109.00 and gave the stock an outperform rating in a research note on Thursday, May 30th. Finally, TD Securities upped their price target on EQB from C$98.00 to C$101.00 and gave the company a buy rating in a research report on Sunday, June 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, EQB has an average rating of Moderate Buy and a consensus price target of C$105.67.

EQB Price Performance

Shares of EQB opened at C$95.12 on Monday. The company’s fifty day moving average price is C$94.13 and its 200-day moving average price is C$89.19. EQB has a 1-year low of C$66.41 and a 1-year high of C$98.88. The firm has a market capitalization of C$3.64 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 0.34 and a beta of 1.58.

EQB (TSE:EQB) last announced its quarterly earnings data on Wednesday, May 29th. The company reported C$2.67 earnings per share for the quarter, missing analysts’ consensus estimates of C$2.71 by C($0.04). EQB had a net margin of 39.67% and a return on equity of 14.70%. The firm had revenue of C$316.66 million during the quarter, compared to analyst estimates of C$300.40 million. As a group, research analysts anticipate that EQB will post 11.7194067 EPS for the current fiscal year.

EQB Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 28th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, June 14th. This is an increase from EQB’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.89%. EQB’s payout ratio is currently 19.33%.

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.