EQB (TSE:EQB) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

EQB Inc. (TSE:EQB) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$104.02 and traded as low as C$94.81. EQB shares last traded at C$96.18, with a volume of 76,009 shares.

Analysts Set New Price Targets

A number of research analysts have weighed in on EQB shares. Cormark downgraded EQB from a “buy” rating to a “market perform” rating and reduced their target price for the stock from C$131.00 to C$110.00 in a report on Thursday, December 5th. Jefferies Financial Group set a C$129.00 price target on EQB and gave the stock a “buy” rating in a research note on Thursday, January 30th. National Bankshares raised their price objective on EQB from C$109.00 to C$117.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Desjardins reduced their target price on shares of EQB from C$130.00 to C$126.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, TD Securities cut shares of EQB from a “buy” rating to a “hold” rating and lowered their price target for the company from C$126.00 to C$110.00 in a research report on Friday, December 6th. Two investment analysts have rated the stock with 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$122.80.

EQB Stock Down 0.0 %

The firm’s fifty day simple moving average is C$103.95 and its 200-day simple moving average is C$103.90. The firm has a market capitalization of C$3.69 billion, a PE ratio of 14.89, a PEG ratio of 0.34 and a beta of 1.59.

EQB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be given a $0.51 dividend. The ex-dividend date is Friday, March 14th. This is a boost from EQB’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.14%. EQB’s dividend payout ratio is 29.31%.

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.