Raymond James Financial Forecasts Strong Price Appreciation for EQB (TSE:EQB) Stock

EQB (TSE:EQB) had its price target raised by equities researchers at Raymond James Financial from C$123.00 to C$136.00 in a report released on Thursday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Raymond James Financial’s price target suggests a potential downside of 2.82% from the company’s previous close.

Several other equities analysts have also issued reports on EQB. Scotiabank raised their price target on EQB from C$122.00 to C$125.00 and gave the stock a “sector perform” rating in a research report on Monday, June 1st. National Bank Financial boosted their price objective on EQB from C$120.00 to C$143.00 and gave the company a “sector perform” rating in a research report on Thursday. Jefferies Financial Group increased their price objective on EQB from C$110.00 to C$112.00 in a research note on Wednesday, May 20th. Desjardins raised their target price on shares of EQB from C$132.00 to C$155.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, TD decreased their target price on shares of 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. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, EQB presently has a consensus rating of “Hold” and a consensus price target of C$130.10.

EQB Trading Down 1.2%

Shares of TSE:EQB traded down C$1.68 on Thursday, reaching C$139.94. 74,803 shares of the company traded hands, compared to its average volume of 118,128. The business’s 50-day simple moving average is C$133.46 and its 200 day simple moving average is C$121.50. EQB has a 52 week low of C$83.93 and a 52 week high of C$150.32. The stock has a market capitalization of C$4.96 billion, a P/E ratio of 27.49, a price-to-earnings-growth ratio of 0.34 and a beta of 0.92.

EQB (TSE:EQB) last released its quarterly earnings data on Wednesday, May 27th. The company reported C$2.03 EPS for the quarter. EQB had a return on equity of 6.16% and a net margin of 6.61%.The firm had revenue of C$302.36 million for the quarter. Sell-side analysts expect that EQB will post 12.5988235 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Gavin Stanley sold 900 shares of EQB stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of C$137.37, for a total value of C$123,633.00. Following the sale, the insider directly owned 2,238 shares in the company, valued at approximately C$307,434.06. This trade represents a 28.68% decrease in their position. Also, Director Daniel Broten sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 3rd. The shares were sold at an average price of C$141.74, for a total value of C$212,610.00. Following the transaction, the director directly owned 5,033 shares in the company, valued at C$713,377.42. This trade represents a 22.96% decrease in their ownership of the stock. Over the last 90 days, insiders acquired 38,100 shares of company stock worth $5,407,348 and sold 7,484 shares worth $1,069,719. Insiders own 29.02% of the company’s stock.

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.