Desjardins Cuts EQB (TSE:EQB) Price Target to C$150.00

EQB (TSE:EQB) had its price target decreased by Desjardins from C$155.00 to C$150.00 in a research report released on Friday,BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

EQB has been the subject of a number of other reports. Raymond James Financial upped their price objective on shares of EQB from C$123.00 to C$136.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 13th. Scotiabank raised 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 research report on Monday, June 1st. Jefferies Financial Group boosted their price target on shares of EQB from C$122.00 to C$129.00 and gave the company a “hold” rating in a report on Thursday, August 13th. TD upped their price target on shares of EQB from C$123.00 to C$154.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Finally, Canadian Imperial Bank of Commerce lowered 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 report on Friday. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of C$138.30.

EQB Price Performance

Shares of TSE EQB opened at C$125.60 on Friday. The business has a fifty day simple moving average of C$136.98 and a two-hundred day simple moving average of C$123.66. The firm has a market cap of C$5.35 billion, a PE ratio of -448.57, a price-to-earnings-growth ratio of 0.34 and a beta of 0.92. EQB has a twelve month low of C$83.93 and a twelve month high of C$150.32.

EQB (TSE:EQB) last issued its earnings results on Wednesday, August 26th. The company reported C$2.12 earnings per share for the quarter. The business had revenue of C$393.04 million during the quarter. EQB had a negative return on equity of 0.07% and a negative net margin of 0.08%. On average, research analysts expect that EQB will post 12.5988235 earnings per share for the current year.

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 $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, June 15th. This is a positive change from EQB’s previous quarterly dividend of $0.59. EQB’s dividend payout ratio is presently -828.57%.

Insider Buying and Selling at EQB

In related news, insider Loblaw Companies Limited bought 16,000 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were bought at an average price of C$124.91 per share, for a total transaction of C$1,998,560.00. Following the completion of the purchase, the insider directly owned 1,474,100 shares of the company’s stock, valued at approximately C$184,129,831. This trade represents a 1.10% increase in their ownership of the stock. Also, Director Darren Lorimer sold 1,850 shares of EQB stock in a transaction dated Thursday, July 16th. The shares were sold at an average price of C$149.00, for a total value of C$275,650.00. Following the completion of the transaction, the director owned 5,138 shares in the company, valued at C$765,562. This trade represents a 26.47% decrease in their position. Over the last three months, insiders bought 78,100 shares of company stock valued at $10,641,748 and sold 7,484 shares valued at $1,069,719. Insiders own 29.02% of the company’s stock.

EQB News Roundup

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.