Cormark Cuts EQB (TSE:EQB) Price Target to C$111.00

EQB (TSE:EQB) had its target price cut by Cormark from C$121.00 to C$111.00 in a research report released on Thursday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada lifted 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. TD Securities lifted their target price on shares of EQB from C$102.00 to C$112.00 and gave the company a buy rating in a research note on Thursday, August 22nd. Raymond James cut their price target on EQB from C$110.00 to C$106.00 in a research note on Wednesday, August 21st. 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 research report on Friday, May 31st. Finally, CIBC dropped their price objective on EQB from C$110.00 to C$105.00 and set an outperform rating for the company in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, EQB has an average rating of Moderate Buy and an average price target of C$105.67.

EQB Stock Performance

Shares of EQB stock opened at C$95.38 on Thursday. The stock has a market cap of C$3.65 billion, a P/E ratio of 10.24, a P/E/G ratio of 0.34 and a beta of 1.58. The stock’s fifty day moving average is C$95.22 and its 200 day moving average is C$89.47. EQB has a one year low of C$66.41 and a one year high of C$98.88.

EQB (TSE:EQB) last posted its quarterly earnings data on Wednesday, August 28th. The company reported C$2.96 EPS for the quarter, topping the consensus estimate 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 return on equity of 14.70% and a net margin of 39.67%. Analysts predict that EQB will post 11.4413146 EPS for the current year.

EQB Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Friday, September 13th. This is a boost from EQB’s previous quarterly dividend of $0.45. EQB’s dividend payout ratio (DPR) 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.