CIBC Boosts EQB (TSE:EQB) Price Target to C$113.00

EQB (TSE:EQB) had its target price increased by CIBC from C$105.00 to C$113.00 in a research note released on Friday, BayStreet.CA reports.

Other equities analysts also recently issued reports about the stock. BMO Capital Markets increased their price objective on shares of EQB from C$104.00 to C$106.00 and gave the company an outperform rating in a report on Friday, August 30th. Cormark lowered their price objective 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. TD Securities cut their price objective on EQB from C$112.00 to C$109.00 and set a buy rating for the company in a research note on Friday, August 30th. Royal Bank of Canada raised their target price on EQB from C$107.00 to C$109.00 and gave the company an outperform rating in a research report on Thursday, May 30th. Finally, Scotiabank dropped their price target on EQB from C$113.00 to C$109.00 in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of C$106.56.

EQB Trading Up 2.6 %

Shares of EQB stock opened at C$98.49 on Friday. EQB has a 12-month low of C$66.41 and a 12-month high of C$99.75. The business’s 50 day moving average is C$95.75 and its two-hundred day moving average is C$89.70. The company has a market capitalization of C$3.78 billion, a P/E ratio of 10.58, a P/E/G ratio of 0.34 and a beta of 1.58.

EQB (TSE:EQB) last announced its earnings results 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. EQB had a return on equity of 14.70% and a net margin of 39.67%. The firm had revenue of C$327.24 million for the quarter, compared to analyst estimates of C$325.00 million. On average, research analysts predict that EQB will post 12.5994695 earnings per share for the current fiscal year.

EQB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.47 per share. The ex-dividend date is Friday, September 13th. This represents a $1.88 dividend on an annualized basis and a yield of 1.91%. This is a positive change from EQB’s previous quarterly dividend of $0.45. EQB’s payout ratio is 20.19%.

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.