EQB (TSE:EQB) Insider Buys C$1,998,560.00 in Stock

EQB Inc. (TSE:EQB) insider Loblaw Companies Limited purchased 16,000 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was purchased at an average cost of C$124.91 per share, for a total transaction of C$1,998,560.00. Following the transaction, the insider owned 1,474,100 shares of the company’s stock, valued at approximately C$184,129,831. This trade represents a 1.10% increase in their ownership of the stock.

Loblaw Companies Limited also recently made the following trade(s):

• On Monday, August 24th, Loblaw Companies Limited acquired 8,000 shares of EQB stock. The shares were purchased at an average cost of C$133.47 per share, with a total value of C$1,067,760.00.
• On Wednesday, August 26th, Loblaw Companies Limited acquired 8,000 shares of EQB stock. The shares were purchased at an average cost of C$137.01 per share, with a total value of C$1,096,080.00.
• On Thursday, August 20th, Loblaw Companies Limited bought 8,000 shares of EQB stock. The stock was purchased at an average price of C$134.00 per share, for a total transaction of C$1,072,000.00.
• On Tuesday, August 4th, Loblaw Companies Limited bought 8,000 shares of EQB stock. The stock was purchased at an average price of C$142.40 per share, for a total transaction of C$1,139,200.00.
• On Thursday, August 6th, Loblaw Companies Limited bought 8,000 shares of EQB stock. The shares were purchased at an average cost of C$137.62 per share, with a total value of C$1,100,960.00.
• On Wednesday, July 15th, Loblaw Companies Limited purchased 6,100 shares of EQB stock. The shares were purchased at an average price of C$143.88 per share, with a total value of C$877,668.00.
• On Friday, July 17th, Loblaw Companies Limited purchased 8,000 shares of EQB stock. The stock was acquired at an average cost of C$144.62 per share, for a total transaction of C$1,156,960.00.
• On Monday, July 20th, Loblaw Companies Limited purchased 8,000 shares of EQB stock. The stock was acquired at an average cost of C$141.57 per share, for a total transaction of C$1,132,560.00.

EQB Stock Performance

EQB stock opened at C$125.60 on Monday. The business’s 50-day simple moving average is C$136.98 and its 200-day simple moving average is C$123.66. The firm has a market capitalization of C$5.35 billion, a PE ratio of -448.57, a PEG ratio of 0.34 and a beta of 0.92. EQB Inc. has a 52 week low of C$83.93 and a 52 week high of C$150.32.

EQB (TSE:EQB) last announced its earnings results on Wednesday, August 26th. The company reported C$2.12 earnings per share for the quarter. The firm had revenue of C$393.04 million during the quarter. EQB had a negative return on equity of 0.07% and a negative net margin of 0.08%. Research analysts forecast that EQB Inc. will post 12.5988235 earnings per share for the current year.

EQB Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given a $0.61 dividend. This is a positive change from EQB’s previous quarterly dividend of $0.59. This represents a $2.44 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, June 15th. EQB’s dividend payout ratio (DPR) is currently -828.57%.

EQB News Summary

Here are the key news stories impacting EQB this week:

• Positive Sentiment: Insider buying signals confidence: Loblaw Companies Limited purchased a combined 32,000 EQB shares in three transactions on August 24, 26 and 27, spending approximately C$4.2 million. Its ownership rose to 1.47 million shares, potentially providing a positive signal about the long-term outlook. EQB insider trading report
• Positive Sentiment: Several analysts remain bullish: BMO Capital maintained a Buy rating and C$145 target, while RBC raised its target to C$146 and kept an Outperform rating. Desjardins and CIBC also retained positive ratings with C$150 and C$154 targets, respectively. These targets imply substantial potential upside if EQB successfully integrates PC Financial. BMO analyst rating
• Neutral Sentiment: Analyst views are mixed: Raymond James downgraded EQB to Underperform and cut its price target to C$120 from C$136, offsetting the more optimistic recommendations from other banks. EQB analyst ratings
• Negative Sentiment: Third-quarter results raised credit concerns: EQB reported a C$127 million net loss after recording a C$219 million provision for credit losses tied largely to the PC Financial transaction. Although revenue reached C$393.04 million and adjusted EPS was reported at C$2.12, the large provision weakened profitability and reduced return on equity to 6.16%. MarketWatch EQB third-quarter loss article
• Negative Sentiment: Near-term execution risk has increased: Investors are weighing whether PC Financial’s expected diversification of deposits and revenue will ultimately offset integration costs and credit losses. The earnings-related decline reflects skepticism about the acquisition’s immediate financial impact. Investment Executive EQB results article

Analysts Set New Price Targets

EQB has been the subject of several research analyst reports. Scotiabank upped their target price on shares of EQB from C$122.00 to C$125.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Royal Bank Of Canada raised their price target on shares of EQB from C$131.00 to C$146.00 and gave the stock an “outperform” rating in a research report on Friday. Jefferies Financial Group boosted their price objective on shares of EQB from C$122.00 to C$129.00 and gave the stock a “hold” rating in a report on Thursday, August 13th. Raymond James Financial lowered shares of EQB from a “market perform” rating to an “underperform” rating and cut their price objective for the company from C$136.00 to C$120.00 in a research report on Friday. Finally, Desjardins reduced their target price on shares of EQB from C$155.00 to C$150.00 and set a “buy” rating for the company in a research note on Friday. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, EQB has an average rating of “Hold” and an average target price of C$138.30.

EQB Company Profile

EQB Inc (TSX: EQB) is a leading Canadian financial services company with approximately $151 billion in combined assets under management and administration. It is the parent company of Equitable Bank, the country’s seventh largest Schedule I bank by assets, which operates EQ Bank, Canada’s Challenger Bank. Our purpose is to remake banking so every Canadian gets ahead, every day. Since 1970, we have built thoughtful financial solutions that serve more than 4 million customers, turning everyday moments into meaningful progress.