EQB (TSE:EQB) Posts Earnings Results

EQB (TSE:EQB) posted its earnings results on Wednesday. The company reported C$2.03 EPS for the quarter, FiscalAI reports. The firm had revenue of C$302.36 million during the quarter. EQB had a net margin of 7.79% and a return on equity of 7.31%.

EQB Stock Down 2.8%

EQB stock traded down C$3.23 during mid-day trading on Wednesday, hitting C$114.09. 133,373 shares of the stock were exchanged, compared to its average volume of 133,328. EQB has a 12 month low of C$83.93 and a 12 month high of C$126.51. The firm’s fifty day simple moving average is C$115.61 and its two-hundred day simple moving average is C$107.89. The stock has a market capitalization of C$4.18 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 0.34 and a beta of 0.74.

EQB Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.1%. The ex-dividend date was Friday, March 13th. This is a positive change from EQB’s previous quarterly dividend of $0.57. EQB’s dividend payout ratio (DPR) is 36.06%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EQB. National Bank Financial set a C$120.00 price objective on shares of EQB and gave the company a “sector perform” rating in a report on Friday, May 15th. Scotiabank raised their price objective on shares of EQB from C$105.00 to C$122.00 in a report on Friday, February 27th. TD Securities dropped their price objective on shares of EQB from C$138.00 to C$132.00 in a report on Thursday, February 26th. Jefferies Financial Group raised their price objective on shares of EQB from C$110.00 to C$112.00 in a report on Wednesday, May 20th. Finally, Desjardins raised their price objective on shares of EQB from C$130.00 to C$132.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, EQB currently has an average rating of “Hold” and an average price target of C$118.56.

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.