Royal Bank Of Canada Forecasts Strong Price Appreciation for EQB (TSE:EQB) Stock

EQB (TSE:EQB) had its price objective increased by equities research analysts at Royal Bank Of Canada from C$131.00 to C$146.00 in a report released on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 17.06% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Jefferies Financial Group lifted their target price on EQB from C$122.00 to C$129.00 and gave the stock a “hold” rating in a research report on Thursday, August 13th. TD upped their price target on EQB from C$123.00 to C$154.00 and gave the company a “buy” rating in a report on Friday, August 14th. Raymond James Financial raised their price objective on EQB from C$123.00 to C$136.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 13th. Scotiabank lifted their price objective on EQB from C$122.00 to C$125.00 and gave the stock a “sector perform” rating in a report on Monday, June 1st. Finally, Canadian Imperial Bank of Commerce lowered their price objective on EQB from C$165.00 to C$154.00 and set an “outperformer” rating on the stock in a research report 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 stock. According to MarketBeat, EQB currently has a consensus rating of “Hold” and a consensus target price of C$138.30.

EQB Trading Down 3.2%

TSE:EQB traded down C$4.07 during trading hours on Friday, hitting C$124.72. 158,542 shares of the company traded hands, compared to its average volume of 120,470. EQB has a twelve month low of C$83.93 and a twelve month high of C$150.32. The firm has a 50-day moving average of C$136.99 and a 200 day moving average of C$123.60. The stock has a market capitalization of C$4.42 billion, a price-to-earnings ratio of 24.50, a P/E/G ratio of 0.34 and a beta of 0.92.

EQB (TSE:EQB) last posted its quarterly earnings data on Wednesday, August 26th. The company reported C$2.12 earnings per share (EPS) for the quarter. The company had revenue of C$393.04 million for the quarter. EQB had a net margin of 6.61% and a return on equity of 6.16%. Equities research analysts predict that EQB will post 12.5988235 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Gavin Stanley sold 900 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of C$137.37, for a total value of C$123,633.00. Following the completion of the transaction, the insider owned 2,238 shares of the company’s stock, valued at C$307,434.06. This represents a 28.68% decrease in their ownership of the stock. Also, Director Darren Lorimer sold 750 shares of the firm’s stock in a transaction dated Thursday, July 16th. The stock was sold at an average price of C$149.24, for a total transaction of C$111,930.00. Following the transaction, the director owned 6,988 shares of the company’s stock, valued at approximately C$1,042,889.12. This represents a 9.69% decrease in their position. In the last three months, insiders have acquired 46,100 shares of company stock worth $6,479,348 and have sold 7,484 shares worth $1,069,719. 29.02% of the stock is owned by company insiders.

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.