Insider Buying: EQB (TSE:EQB) Insider Acquires C$1,067,760.00 in Stock

EQB Inc. (TSE:EQB) insider Loblaw Companies Limited acquired 8,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were purchased at an average cost of C$133.47 per share, for a total transaction of C$1,067,760.00. Following the acquisition, the insider owned 1,442,100 shares in the company, valued at 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 bought 8,000 shares of EQB stock. The stock was purchased at an average cost of C$137.01 per share, with a total value of C$1,096,080.00.
• On Thursday, August 27th, Loblaw Companies Limited bought 16,000 shares of EQB stock. The stock was purchased at an average price of C$124.91 per share, with a total value of C$1,998,560.00.
• On Thursday, August 20th, Loblaw Companies Limited bought 8,000 shares of EQB stock. The stock was purchased at an average price of C$134.00 per share, with a total value of C$1,072,000.00.
• On Tuesday, August 4th, Loblaw Companies Limited purchased 8,000 shares of EQB stock. The shares were purchased at an average cost of C$142.40 per share, for a total transaction of C$1,139,200.00.
• On Thursday, August 6th, Loblaw Companies Limited purchased 8,000 shares of EQB stock. The shares were purchased at an average price of C$137.62 per share, for a total transaction of C$1,100,960.00.
• On Wednesday, July 15th, Loblaw Companies Limited purchased 6,100 shares of EQB stock. The shares were 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 acquired 8,000 shares of EQB stock. The stock was purchased at an average cost of C$144.62 per share, with a total value of C$1,156,960.00.
• On Monday, July 20th, Loblaw Companies Limited bought 8,000 shares of EQB stock. The shares were acquired at an average price of C$141.57 per share, for a total transaction of C$1,132,560.00.

EQB Price Performance

EQB opened at C$125.60 on Monday. EQB Inc. has a fifty-two week low of C$83.93 and a fifty-two week high of C$150.32. The firm has a market capitalization of C$5.35 billion, a price-to-earnings ratio of -448.57, a PEG ratio of 0.34 and a beta of 0.92. The company’s 50 day moving average price is C$136.98 and its two-hundred day moving average price is C$123.66.

EQB (TSE:EQB) last released its quarterly earnings results on Wednesday, August 26th. The company reported C$2.12 earnings per share (EPS) for the quarter. The firm had revenue of C$393.04 million during the quarter. EQB had a negative net margin of 0.08% and a negative return on equity of 0.07%. As a group, equities research analysts predict that EQB Inc. will post 12.5988235 EPS for the current year.

EQB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.44 dividend on an annualized basis and a yield of 1.9%. This is a boost from EQB’s previous quarterly dividend of $0.59. EQB’s payout ratio is currently -828.57%.

Analysts Set New Price Targets

EQB has been the topic of a number of analyst reports. Desjardins reduced their price objective on shares of EQB from C$155.00 to C$150.00 and set a “buy” rating on the stock in a research note on Friday. Scotiabank boosted their target price on shares of EQB from C$122.00 to C$125.00 and gave the company a “sector perform” rating in a report on Monday, June 1st. Jefferies Financial Group upped their price target on shares of EQB from C$122.00 to C$129.00 and gave the company a “hold” rating in a research report on Thursday, August 13th. Canadian Imperial Bank of Commerce decreased their price target on EQB from C$165.00 to C$154.00 and set an “outperformer” rating for the company in a report on Friday. Finally, National Bank Financial lifted their price objective on EQB from C$120.00 to C$143.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 13th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$138.30.

Key Headlines Impacting EQB

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

EQB Company Profile

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.