EQB (TSE:EQB – Get Free Report) was downgraded by equities researchers at Raymond James Financial from a “market perform” rating to an “underperform” rating in a research note issued to investors on Friday,BayStreet.CA reports. They presently have a C$120.00 price target on the stock, down from their previous price target of C$136.00. Raymond James Financial’s price target indicates a potential downside of 3.78% from the stock’s previous close.
Several other equities analysts also recently commented on EQB. National Bank Financial boosted their price target on shares of EQB from C$120.00 to C$143.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 13th. Jefferies Financial Group increased their price objective on EQB from C$122.00 to C$129.00 and gave the company a “hold” rating in a research note on Thursday, August 13th. Royal Bank Of Canada lifted their target price on EQB from C$131.00 to C$146.00 and gave the company an “outperform” rating in a report on Friday. Scotiabank boosted their target price on EQB from C$122.00 to C$125.00 and gave the stock a “sector perform” rating in a research note on Monday, June 1st. Finally, Canadian Imperial Bank of Commerce cut their price target on EQB from C$165.00 to C$154.00 and set an “outperformer” rating on the stock in a report on Friday. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$138.30.
View Our Latest Stock Report on EQB
EQB Price Performance
EQB (TSE:EQB – Get Free Report) last issued its quarterly earnings results on Wednesday, August 26th. The company reported C$2.12 earnings per share (EPS) for the quarter. The business had revenue of C$393.04 million for the quarter. EQB had a net margin of 6.61% and a return on equity of 6.16%. On average, equities analysts forecast that EQB will post 12.5988235 EPS for the current year.
Insiders Place Their Bets
In other EQB news, insider Gavin Stanley sold 900 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of C$137.37, for a total value of C$123,633.00. Following the sale, the insider directly owned 2,238 shares in the company, valued at C$307,434.06. This trade represents a 28.68% decrease in their ownership of the stock. Also, Director Daniel Broten sold 1,500 shares of the firm’s stock in a transaction on Friday, July 3rd. The shares were sold at an average price of C$141.74, for a total value of C$212,610.00. Following the completion of the sale, the director owned 5,033 shares in the company, valued at approximately C$713,377.42. This represents a 22.96% decrease in their ownership of the stock. Over the last ninety days, insiders bought 46,100 shares of company stock worth $6,479,348 and sold 7,484 shares worth $1,069,719. 29.02% of the stock is owned by insiders.
About EQB
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.
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