EQB (TSE:EQB) Stock Passes Above 50 Day Moving Average – What’s Next?

EQB Inc. (TSE:EQB)’s share price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$104.85 and traded as high as C$108.87. EQB shares last traded at C$107.87, with a volume of 51,727 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Cormark reduced their target price on EQB from C$121.00 to C$111.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Raymond James decreased their target price on EQB from C$110.00 to C$106.00 in a report on Wednesday, August 21st. Scotiabank cut their price target on EQB from C$113.00 to C$109.00 in a report on Monday, August 19th. TD Securities reduced their price target on shares of EQB from C$112.00 to C$109.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Finally, BMO Capital Markets raised their price objective on shares of EQB from C$104.00 to C$106.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, EQB has a consensus rating of “Moderate Buy” and an average target price of C$106.56.

EQB Stock Down 1.0 %

The stock has a fifty day moving average of C$104.85 and a 200-day moving average of C$96.09. The firm has a market capitalization of C$4.14 billion, a P/E ratio of 11.33, a P/E/G ratio of 0.34 and a beta of 1.59.

EQB (TSE:EQB) last posted its quarterly earnings data on Wednesday, August 28th. The company reported C$2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.93 by C$0.03. The company had revenue of C$327.24 million for the quarter, compared to the consensus estimate of C$325.00 million. EQB had a net margin of 39.67% and a return on equity of 14.70%. Sell-side analysts predict that EQB Inc. will post 12.5988235 EPS for the current fiscal year.

EQB Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 30th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, September 13th. This is a boost from EQB’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a yield of 1.74%. EQB’s payout ratio is 19.75%.

About EQB

EQB Inc, through its subsidiary, Equitable Bank, provides personal and commercial banking services to retail and commercial customers in Canada. The company accepts term deposits and guaranteed investment certificates, high interest savings accounts, institutional deposit notes and covered bonds, as well as specialized financing solutions.