EQB Inc. (TSE:EQB) Plans Dividend Increase – $0.63 Per Share

EQB Inc. (TSE:EQB – Get Free Report) announced a quarterly dividend on Tuesday, September 15th. Shareholders of record on Tuesday, September 29th will be given a dividend of 0.63 per share on Tuesday, September 29th. This represents a c) dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Tuesday, September 15th. This is a 3.3% increase from EQB’s previous quarterly dividend of $0.61.

EQB Price Performance

EQB stock traded up C$1.09 during trading hours on Friday, hitting C$129.60. The stock had a trading volume of 63,684 shares, compared to its average volume of 121,483. EQB has a 1-year low of C$83.93 and a 1-year high of C$150.32. The stock has a market capitalization of C$5.52 billion, a price-to-earnings ratio of -462.86, a PEG ratio of 0.34 and a beta of 0.83. The stock’s fifty day moving average is C$136.74 and its two-hundred day moving average is C$124.43.

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EQB (TSE:EQB – Get Free Report) last released its quarterly earnings results on Wednesday, August 26th. The company reported C$2.12 earnings per share (EPS) for the quarter. EQB had a negative return on equity of 0.07% and a negative net margin of 0.08%.The business had revenue of C$393.04 million during the quarter. As a group, sell-side analysts anticipate that EQB will post 12.5988235 EPS for the current year.

Analyst Upgrades and Downgrades

EQB has been the subject of several recent research reports. TD raised their target price on shares of EQB from C$123.00 to C$154.00 and gave the company a “buy” rating in a report on Friday, August 14th. 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 on the stock in a research report on Friday, August 28th. Desjardins dropped their price objective on shares of EQB from C$155.00 to C$150.00 and set a “buy” rating for the company in a research note on Friday, August 28th. 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. Finally, Scotiabank cut their price objective on EQB from C$141.00 to C$135.00 in a research report on Monday, August 31st. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, EQB presently has a consensus rating of “Hold” and a consensus price target of C$139.10.

Read Our Latest Analysis on EQB

EQB Company Profile

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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.

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