EQB (TSE:EQB) Hits New 52-Week High – Here’s What Happened

Shares of EQB Inc. (TSE:EQB) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$127.31 and last traded at C$127.09, with a volume of 3040 shares changing hands. The stock had previously closed at C$126.30.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on EQB shares. Scotiabank upped their price target on EQB from C$122.00 to C$125.00 and gave the stock a “sector perform” rating in a research note on Monday, June 1st. Jefferies Financial Group lifted their price objective on EQB from C$110.00 to C$112.00 in a research note on Wednesday, May 20th. National Bank Financial set a C$120.00 target price on EQB and gave the stock a “sector perform” rating in a report on Friday, May 15th. TD cut their target price on EQB from C$132.00 to C$123.00 and set a “buy” rating on the stock in a research note on Thursday, May 28th. Finally, Raymond James Financial reduced their price target on EQB from C$127.00 to C$123.00 and set a “market perform” rating for the company in a report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of C$122.50.

EQB Stock Performance

The firm has a market cap of C$4.71 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 0.34 and a beta of 1.01. The stock has a 50-day simple moving average of C$119.13 and a two-hundred day simple moving average of C$112.38.

EQB (TSE:EQB) last announced its quarterly earnings results on Wednesday, May 27th. The company reported C$2.03 earnings per share (EPS) for the quarter. EQB had a net margin of 6.61% and a return on equity of 6.16%. The firm had revenue of C$302.36 million for the quarter. As a group, sell-side analysts anticipate that EQB Inc. will post 12.5988235 EPS for the current fiscal year.

EQB Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be issued a $0.61 dividend. This is an increase from EQB’s previous quarterly dividend of $0.59. This represents a $2.44 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, June 15th. EQB’s dividend payout ratio is 44.01%.

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. At Equitable Bank we are as invested in our employees as we are in our business. Thats why we are consistently recognized as one of Canadas Top Employers a rating that comes from our 1300+ employees.