CIBC Lowers EQB (TSE:EQB) Price Target to C$105.00

EQB (TSE:EQB) had its price objective trimmed by CIBC from C$110.00 to C$105.00 in a research note published on Tuesday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other equities analysts also recently commented on EQB. Royal Bank of Canada upped their price target 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. Scotiabank reduced their price target on EQB from C$113.00 to C$109.00 in a report on Monday, August 19th. BMO Capital Markets boosted their price objective on EQB from C$102.00 to C$104.00 and gave the company an outperform rating in a report on Friday, May 31st. Finally, TD Securities increased their target price on EQB from C$98.00 to C$101.00 and gave the stock a buy rating in a research note on Sunday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of C$106.89.

EQB Stock Performance

Shares of EQB stock opened at C$97.48 on Tuesday. The stock has a 50 day moving average price of C$94.55 and a 200-day moving average price of C$89.31. EQB has a one year low of C$66.41 and a one year high of C$98.88. The stock has a market cap of C$3.73 billion, a price-to-earnings ratio of 10.47, a price-to-earnings-growth ratio of 0.34 and a beta of 1.58.

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

EQB Increases Dividend

The company also recently declared 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. This is an increase from EQB’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, June 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.85%. EQB’s dividend payout ratio is presently 19.33%.

About EQB

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.