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

EQB Inc. (TSE:EQB) reached a new 52-week high on Monday after the company announced a dividend. The stock 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 $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 1.89%. This is a positive change from EQB’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, September 13th. EQB’s dividend payout ratio (DPR) is currently 20.19%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Scotiabank reduced their price objective on shares of EQB from C$113.00 to C$109.00 in a report on Monday, August 19th. Raymond James reduced their price objective on shares of EQB from C$110.00 to C$106.00 in a report on Wednesday, August 21st. BMO Capital Markets raised their price objective 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. CIBC raised their price objective on shares of EQB from C$105.00 to C$113.00 in a report on Friday, September 6th. Finally, Cormark cut their price target on shares of EQB from C$121.00 to C$111.00 and set a “buy” rating for the company in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$106.56.

EQB Stock Up 0.8 %

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

EQB (TSE:EQB) last issued its quarterly earnings data on Wednesday, August 28th. The company reported C$2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.93 by C$0.03. The firm had revenue of C$327.24 million during the quarter, compared to analysts’ expectations of C$325.00 million. EQB had a net margin of 39.67% and a return on equity of 14.70%. As a group, equities research analysts predict that EQB Inc. will post 12.5994695 earnings per share for the current fiscal year.

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.