EQB (TSE:EQB) Reaches New 12-Month Low – What’s Next?

EQB Inc. (TSE:EQB) reached a new 52-week low on Friday . The stock traded as low as C$84.35 and last traded at C$84.53, with a volume of 53265 shares trading hands. The stock had previously closed at C$86.44.

Wall Street Analyst Weigh In

EQB has been the topic of several recent research reports. TD Securities upped their price target on EQB from C$100.00 to C$105.00 and gave the stock a “hold” rating in a research note on Thursday, October 23rd. Jefferies Financial Group cut shares of EQB from a “buy” rating to a “hold” rating and dropped their target price for the company from C$119.00 to C$107.00 in a report on Friday, August 29th. Royal Bank Of Canada decreased their price target on shares of EQB from C$124.00 to C$112.00 and set an “outperform” rating for the company in a research note on Friday, August 29th. Raymond James Financial cut shares of EQB from a “moderate buy” rating to a “hold” rating and lowered their price target for the company from C$108.00 to C$93.00 in a research report on Thursday, August 28th. Finally, National Bankshares dropped their price objective on shares of EQB from C$104.00 to C$89.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 28th. Two investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, EQB has an average rating of “Hold” and a consensus target price of C$103.90.

EQB Stock Down 2.1%

The firm has a fifty day moving average price of C$90.95 and a two-hundred day moving average price of C$95.52. The stock has a market capitalization of C$3.24 billion, a P/E ratio of 9.60, a P/E/G ratio of 0.34 and a beta of 1.17.

EQB Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, September 15th. This is a boost from EQB’s previous quarterly dividend of $0.53. EQB’s payout ratio is 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.