Raymond James Financial Upgrades EQB (TSE:EQB) to “Hold”

EQB (TSE:EQB) was upgraded by stock analysts at Raymond James Financial from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm currently has a C$124.00 target price on the stock, up from their prior target price of C$120.00. Raymond James Financial‘s target price would suggest a potential upside of 0.69% from the company’s current price.

Several other equities analysts have also recently issued reports on EQB. TD boosted their price target on shares of EQB from C$123.00 to C$154.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Canadian Imperial Bank of Commerce decreased their price target on shares of EQB from C$165.00 to C$154.00 and set an “outperformer” rating for the company in a research note on Friday, August 28th. Scotiabank lowered their price objective on shares of EQB from C$141.00 to C$135.00 in a report on Monday, August 31st. National Bank Financial lifted their price objective on EQB from C$120.00 to C$143.00 and gave the company a “sector perform” rating in a research report on Thursday, August 13th. Finally, Desjardins reduced their target price on EQB from C$155.00 to C$150.00 and set a “buy” rating on the stock in a report on Friday, August 28th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, EQB presently has an average rating of “Moderate Buy” and an average target price of C$139.50.

EQB Trading Down 3.7%

Shares of EQB stock opened at C$123.15 on Tuesday. The company’s fifty day simple moving average is C$123.95 and its two-hundred day simple moving average is C$122.63. The company has a market cap of C$5.24 billion, a P/E ratio of -439.82, a PEG ratio of 0.34 and a beta of 0.71. EQB has a 12-month low of C$83.93 and a 12-month high of C$150.32.

EQB (TSE:EQB) last issued its quarterly earnings data on Wednesday, August 26th. The company reported C$2.12 EPS for the quarter. EQB had a negative net margin of 0.08% and a negative return on equity of 0.07%. The business had revenue of C$393.04 million during the quarter. Analysts predict that EQB will post 12.60 EPS for the current fiscal year.

Insider Activity

In other EQB news, Director Andrew Michael Bunston bought 200 shares of the stock in a transaction dated Tuesday, September 22nd. The stock was purchased at an average cost of C$126.37 per share, for a total transaction of C$25,274.00. Following the completion of the acquisition, the director owned 200 shares of the company’s stock, valued at approximately C$25,274. This trade represents a ∞ increase in their ownership of the stock. Also, insider Loblaw Companies Limited bought 8,000 shares of the stock in a transaction dated Friday, September 25th. The shares were acquired at an average price of C$127.05 per share, with a total value of C$1,016,400.00. Following the completion of the acquisition, the insider directly owned 1,780,100 shares of the company’s stock, valued at approximately C$226,161,705. The trade was a 0.45% increase in their position. Insiders have purchased 184,200 shares of company stock worth $23,628,874 in the last three months. 29.02% of the stock is currently owned by insiders.

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.