Desjardins Issues Positive Forecast for EQB (TSE:EQB) Stock Price

EQB (TSE:EQB) had its price target increased by Desjardins from C$110.00 to C$125.00 in a research report sent to investors on Monday,BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

EQB has been the subject of several other reports. Scotiabank lifted their target price on EQB from C$102.00 to C$105.00 in a research note on Friday, January 9th. BMO Capital Markets upgraded EQB from a “hold” rating to an “outperform” rating and lifted their price objective for the stock from C$108.00 to C$130.00 in a research report on Tuesday, January 20th. Jefferies Financial Group dropped their price objective on EQB from C$107.00 to C$93.00 in a report on Tuesday, November 25th. TD Securities upped their target price on shares of EQB from C$96.00 to C$103.00 and gave the company a “hold” rating in a research report on Friday, December 5th. Finally, Veritas raised shares of EQB to a “hold” rating in a research note on Monday, December 1st. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$107.11.

EQB Trading Up 1.8%

EQB opened at C$116.34 on Monday. EQB has a 1-year low of C$83.93 and a 1-year high of C$116.48. The stock has a market capitalization of C$4.34 billion, a PE ratio of 17.49, a PEG ratio of 0.34 and a beta of 0.74. The firm has a 50-day moving average price of C$103.40 and a two-hundred day moving average price of C$96.83.

EQB (TSE:EQB) last released its quarterly earnings results on Wednesday, December 3rd. The company reported C$6.56 EPS for the quarter. EQB had a net margin of 13.04% and a return on equity of 8.52%. On average, research analysts predict that EQB will post 12.5988235 EPS for the current year.

EQB Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.0%. This is an increase from EQB’s previous quarterly dividend of $0.55. The ex-dividend date was Monday, December 15th. EQB’s dividend payout ratio (DPR) is 31.28%.

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. At Equitable Bank we are as invested in our employees as we are in our business. Thats why we are consistently recognized as one of Canadas Top Employers a rating that comes from our 1300+ employees.