EQB (TSE:EQB) Issues Quarterly Earnings Results

EQB (TSE:EQB) released its earnings results on Wednesday. The company reported C$2.12 earnings per share for the quarter, FiscalAI reports. EQB had a net margin of 6.61% and a return on equity of 6.16%. The firm had revenue of C$393.04 million for the quarter.

EQB Trading Up 2.4%

Shares of EQB stock traded up C$3.27 on Wednesday, reaching C$137.87. The stock had a trading volume of 122,770 shares, compared to its average volume of 118,059. EQB has a 1 year low of C$83.93 and a 1 year high of C$150.32. The company has a market cap of C$4.89 billion, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 0.34 and a beta of 0.92. The business’s 50 day moving average is C$136.60 and its two-hundred day moving average is C$123.31.

EQB Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.61 per share. This is a boost from EQB’s previous quarterly dividend of $0.59. This represents a $2.44 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Monday, June 15th. EQB’s dividend payout ratio (DPR) is currently 44.01%.

Insider Buying and Selling

In other news, Director Darren Lorimer sold 750 shares of the business’s stock in a transaction on Thursday, July 16th. The shares were sold at an average price of C$149.24, for a total transaction of C$111,930.00. Following the completion of the transaction, the director directly owned 6,988 shares in the company, valued at C$1,042,889.12. The trade was a 9.69% decrease in their position. Also, insider Gavin Stanley sold 900 shares of the company’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of C$137.37, for a total transaction of C$123,633.00. Following the completion of the transaction, the insider directly owned 2,238 shares in the company, valued at approximately C$307,434.06. The trade was a 28.68% decrease in their position. In the last 90 days, insiders have bought 46,100 shares of company stock valued at $6,479,348 and have sold 7,484 shares valued at $1,069,719. 29.02% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Desjardins lifted their price target on shares of EQB from C$132.00 to C$155.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Canadian Imperial Bank of Commerce boosted their target price on EQB from C$151.00 to C$165.00 and gave the company an “outperformer” rating in a research note on Wednesday, August 19th. TD upped their price target on EQB from C$123.00 to C$154.00 and gave the company a “buy” rating in a research report on Friday, August 14th. National Bank Financial increased their price target on EQB from C$120.00 to C$143.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 13th. Finally, Raymond James Financial boosted their price objective on EQB from C$123.00 to C$136.00 and gave the company a “sector perform” rating in a research note on Thursday, August 13th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$138.10.

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.