EQB (TSE:EQB) Hits New 12-Month High – Here’s What Happened

EQB Inc. (TSE:EQB) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$112.83 and last traded at C$112.85, with a volume of 10483 shares trading hands. The stock had previously closed at C$111.85.

Analysts Set New Price Targets

A number of research firms have weighed in on EQB. Raymond James raised their target price on shares of EQB from C$112.00 to C$121.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. CIBC upped their target price on EQB from C$113.00 to C$130.00 in a report on Tuesday, November 26th. TD Securities downgraded EQB from a “buy” rating to a “hold” rating and cut their target price for the stock from C$126.00 to C$110.00 in a research note on Friday, December 6th. Scotiabank lowered their price target on shares of EQB from C$135.00 to C$130.00 in a research report on Friday, December 6th. Finally, BMO Capital Markets raised their price objective on shares of EQB from C$106.00 to C$119.00 in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$115.50.

EQB Stock Performance

The firm has a market capitalization of C$4.34 billion, a PE ratio of 11.87, a P/E/G ratio of 0.34 and a beta of 1.59. The business’s 50 day moving average price is C$104.93 and its 200-day moving average price is C$101.97.

EQB Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were paid a $0.49 dividend. The ex-dividend date of this dividend was Friday, December 13th. This is a boost from EQB’s previous quarterly dividend of $0.47. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.73%. EQB’s payout ratio is presently 19.75%.

EQB Company Profile

EQB Inc formerly Equitable Group Inc trades on the Toronto Stock Exchange TSX: EQB and EQB.PR.C and serves over 360000 Canadians through its wholly owned subsidiary Equitable Bank Canadas Challenger Bank. Equitable Bank has grown to become the countrys eighth largest independent Schedule I bank with a clear mandate to drive real change in Canadian banking to enrich peoples lives.