EQB (TSE:EQB) Stock Crosses Above 200-Day Moving Average – Here’s Why

EQB Inc. (TSE:EQB)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$119.27 and traded as high as C$142.14. EQB shares last traded at C$140.27, with a volume of 42,990 shares.

Analyst Ratings Changes

A number of brokerages recently issued reports on EQB. Jefferies Financial Group raised their price target on EQB from C$110.00 to C$112.00 in a research report on Wednesday, May 20th. Scotiabank boosted their price objective on shares of EQB from C$122.00 to C$125.00 and gave the company a “sector perform” rating in a research report on Monday, June 1st. TD reduced 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. Desjardins increased their target price on shares of EQB from C$130.00 to C$132.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, National Bank Financial set a C$120.00 price target on shares of EQB and gave the company a “sector perform” rating in a report on Friday, May 15th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$122.50.

EQB Trading Down 0.1%

The company has a 50-day simple moving average of C$129.28 and a 200 day simple moving average of C$119.27. The company has a market cap of C$4.97 billion, a P/E ratio of 27.56, a P/E/G ratio of 0.34 and a beta of 0.93.

EQB (TSE:EQB) last released its earnings results on Wednesday, May 27th. The company reported C$2.03 earnings per share for the quarter. EQB had a return on equity of 6.16% and a net margin of 6.61%.The business had revenue of C$302.36 million for the quarter. On average, equities analysts forecast that EQB Inc. will post 12.5988235 EPS for the current fiscal year.

EQB Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were paid a $0.61 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.44 annualized dividend and a yield of 1.7%. This is a boost from EQB’s previous quarterly dividend of $0.59. EQB’s payout ratio is 44.01%.

Insider Buying and Selling

In other EQB news, Director Daniel Broten sold 1,500 shares of the business’s stock in a transaction dated 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 completion of the sale, the director directly owned 5,033 shares of the company’s stock, valued at C$713,377.42. The trade was a 22.96% decrease in their position. Also, insider Loblaw Companies Limited bought 8,000 shares of the company’s stock in a transaction on Monday, July 20th. The stock was bought at an average price of C$141.57 per share, for a total transaction of C$1,132,560.00. Following the completion of the purchase, the insider directly owned 1,250,100 shares in the company, valued at approximately C$176,976,657. This represents a 0.64% increase in their ownership of the stock. Over the last ninety days, insiders have bought 22,100 shares of company stock worth $3,167,188 and have sold 7,484 shares worth $1,069,719. 29.02% of the stock is currently owned by corporate insiders.

About EQB

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.