EQB (TSE:EQB) Reaches New 52-Week High – Time to Buy?

Shares of EQB Inc. (TSE:EQB) reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$113.20 and last traded at C$113.20, with a volume of 945 shares traded. The stock had previously closed at C$112.50.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. BMO Capital Markets boosted their target price on EQB from C$106.00 to C$119.00 in a research report on Monday, November 18th. TD Securities decreased their price objective on EQB from C$112.00 to C$109.00 and set a “buy” rating for the company in a report on Friday, August 30th. CIBC increased their target price on EQB from C$113.00 to C$130.00 in a report on Tuesday, November 26th. Raymond James reduced their price target on shares of EQB from C$110.00 to C$106.00 in a research report on Wednesday, August 21st. Finally, Cormark lowered their price objective on shares of EQB from C$121.00 to C$111.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, EQB has a consensus rating of “Moderate Buy” and a consensus price target of C$114.25.

EQB Price Performance

The company’s fifty day moving average price is C$107.11 and its 200 day moving average price is C$98.19. The company has a market cap of C$4.22 billion, a PE ratio of 11.54, a P/E/G ratio of 0.34 and a beta of 1.59.

EQB Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 30th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Friday, September 13th. This is an increase from EQB’s previous quarterly dividend of $0.45. EQB’s 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.