EQB (TSE:EQB) Stock Price Passes Below Two Hundred Day Moving Average – Time to Sell?

EQB Inc. (TSE:EQB)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$95.73 and traded as low as C$89.98. EQB shares last traded at C$90.45, with a volume of 67,295 shares traded.

Wall Street Analyst Weigh In

Several analysts have weighed in on EQB shares. Raymond James Financial downgraded shares of EQB from a “moderate buy” rating to a “hold” rating and dropped their target price for the stock from C$108.00 to C$93.00 in a research report on Thursday, August 28th. Jefferies Financial Group downgraded shares of EQB from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$119.00 to C$107.00 in a research report on Friday, August 29th. National Bankshares dropped their target price on shares of EQB from C$104.00 to C$89.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 28th. Desjardins dropped their target price on shares of EQB from C$110.00 to C$103.00 and set a “buy” rating on the stock in a research report on Friday, August 29th. Finally, TD Securities boosted their target price on shares of EQB from C$100.00 to C$105.00 and gave the stock a “hold” rating in a research report on Thursday, October 23rd. Two investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$103.90.

EQB Stock Performance

The company’s fifty day moving average is C$91.34 and its two-hundred day moving average is C$95.73. The company has a market cap of C$3.47 billion, a price-to-earnings ratio of 10.26, a P/E/G ratio of 0.34 and a beta of 1.17.

EQB Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 30th were issued a $0.55 dividend. This is a boost from EQB’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, September 15th. This represents a $2.20 annualized dividend and a yield of 2.4%. EQB’s dividend payout ratio is currently 22.68%.

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.