EQB (TSE:EQB) Insider Loblaw Companies Limited Purchases 8,000 Shares

EQB Inc. (TSE:EQB) insider Loblaw Companies Limited bought 8,000 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were bought at an average cost of C$133.47 per share, with a total value of C$1,067,760.00. Following the purchase, the insider directly owned 1,442,100 shares of the company’s stock, valued at approximately C$192,477,087. This represents a 0.56% increase in their ownership of the stock.

Loblaw Companies Limited also recently made the following trade(s):

• On Wednesday, August 26th, Loblaw Companies Limited purchased 8,000 shares of EQB stock. The stock was bought at an average cost of C$137.01 per share, for a total transaction of C$1,096,080.00.
• On Thursday, August 27th, Loblaw Companies Limited purchased 16,000 shares of EQB stock. The stock was bought at an average cost of C$124.91 per share, for a total transaction of C$1,998,560.00.
• On Thursday, August 20th, Loblaw Companies Limited acquired 8,000 shares of EQB stock. The stock was purchased at an average price of C$134.00 per share, for a total transaction of C$1,072,000.00.
• On Tuesday, August 4th, Loblaw Companies Limited acquired 8,000 shares of EQB stock. The shares were purchased at an average price of C$142.40 per share, with a total value of C$1,139,200.00.
• On Thursday, August 6th, Loblaw Companies Limited bought 8,000 shares of EQB stock. The shares were purchased at an average cost of C$137.62 per share, with a total value of C$1,100,960.00.
• On Wednesday, July 15th, Loblaw Companies Limited bought 6,100 shares of EQB stock. The stock was purchased at an average price of C$143.88 per share, for a total transaction of C$877,668.00.
• On Friday, July 17th, Loblaw Companies Limited bought 8,000 shares of EQB stock. The stock was purchased at an average price of C$144.62 per share, for a total transaction of C$1,156,960.00.
• On Monday, July 20th, Loblaw Companies Limited purchased 8,000 shares of EQB stock. The stock was purchased at an average cost of C$141.57 per share, for a total transaction of C$1,132,560.00.

EQB Stock Performance

Shares of EQB opened at C$125.60 on Friday. The stock has a 50 day moving average price of C$136.98 and a 200 day moving average price of C$123.61. EQB Inc. has a one year low of C$83.93 and a one year high of C$150.32. The stock has a market capitalization of C$4.45 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 0.34 and a beta of 0.92.

EQB (TSE:EQB) last announced its quarterly earnings data on Wednesday, August 26th. The company reported C$2.12 earnings per share for the quarter. EQB had a negative return on equity of 0.07% and a negative net margin of 0.08%.The company had revenue of C$393.04 million for the quarter. On average, analysts predict that EQB Inc. will post 12.5988235 earnings per share for the current year.

EQB Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a $0.61 dividend. This is an increase from EQB’s previous quarterly dividend of $0.59. This represents a $2.44 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, June 15th. EQB’s payout ratio is 44.01%.

Key EQB News

Here are the key news stories impacting EQB this week:

• Positive Sentiment: Insider buying signals confidence: Loblaw Companies Limited purchased a combined 32,000 EQB shares in three transactions on August 24, 26 and 27, spending approximately C$4.2 million. Its ownership rose to 1.47 million shares, potentially providing a positive signal about the long-term outlook. EQB insider trading report
• Positive Sentiment: Several analysts remain bullish: BMO Capital maintained a Buy rating and C$145 target, while RBC raised its target to C$146 and kept an Outperform rating. Desjardins and CIBC also retained positive ratings with C$150 and C$154 targets, respectively. These targets imply substantial potential upside if EQB successfully integrates PC Financial. BMO analyst rating
• Neutral Sentiment: Analyst views are mixed: Raymond James downgraded EQB to Underperform and cut its price target to C$120 from C$136, offsetting the more optimistic recommendations from other banks. EQB analyst ratings
• Negative Sentiment: Third-quarter results raised credit concerns: EQB reported a C$127 million net loss after recording a C$219 million provision for credit losses tied largely to the PC Financial transaction. Although revenue reached C$393.04 million and adjusted EPS was reported at C$2.12, the large provision weakened profitability and reduced return on equity to 6.16%. MarketWatch EQB third-quarter loss article
• Negative Sentiment: Near-term execution risk has increased: Investors are weighing whether PC Financial’s expected diversification of deposits and revenue will ultimately offset integration costs and credit losses. The earnings-related decline reflects skepticism about the acquisition’s immediate financial impact. Investment Executive EQB results article

Analyst Ratings Changes

Several analysts recently issued reports on the stock. National Bank Financial upped their price objective on shares of EQB from C$120.00 to C$143.00 and gave the company a “sector perform” rating in a research note on Thursday, August 13th. Canadian Imperial Bank of Commerce decreased their target price on shares of EQB from C$165.00 to C$154.00 and set an “outperformer” rating on the stock in a research note on Friday. Jefferies Financial Group boosted their target price on EQB from C$122.00 to C$129.00 and gave the stock a “hold” rating in a report on Thursday, August 13th. Raymond James Financial lowered EQB from a “market perform” rating to an “underperform” rating and dropped their price target for the company from C$136.00 to C$120.00 in a research report on Friday. Finally, Scotiabank upped their price target on 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. 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$138.30.

About EQB

EQB Inc (TSX: EQB) is a leading Canadian financial services company with approximately $151 billion in combined assets under management and administration. It is the parent company of Equitable Bank, the country’s seventh largest Schedule I bank by assets, which operates EQ Bank, Canada’s Challenger Bank. Our purpose is to remake banking so every Canadian gets ahead, every day. Since 1970, we have built thoughtful financial solutions that serve more than 4 million customers, turning everyday moments into meaningful progress.