EQB Inc. has seen its target price increased from C$107.00 to C$110.00 by Desjardins in a research report issued on Thursday. This adjustment reflects a continued positive outlook on the company, with Desjardins maintaining a “buy” rating on the stock.
Several other financial institutions have recently updated their evaluations of EQB. BMO Capital Markets raised its target price from C$100.00 to C$108.00, assigning a “market perform” rating on October 24. Conversely, Raymond James Financial decreased its target from C$93.00 to C$91.00 in a report on December 5. CIBC also adjusted its target price down from C$126.00 to C$116.00, while setting a “hold” rating on August 29.
The fluctuations in price targets were not limited to large firms. Jefferies Financial Group cut its price target from C$107.00 to C$93.00 on November 25, and National Bankshares lowered its target from C$104.00 to C$89.00, rating the stock as “sector perform” on August 28. Overall, two analysts have rated EQB as a “buy,” while eight have given it a “hold” rating. According to MarketBeat, the stock currently holds an average price target of C$101.78.
Recent Earnings and Dividend Increase
In its latest earnings announcement on December 3, EQB reported earnings per share of C$6.56 for the quarter. The company’s return on equity stood at 8.52%, coupled with a net margin of 13.04%. Looking ahead, analysts forecast that EQB will achieve an earnings per share of approximately 12.60 for the current fiscal year.
In addition to its stock performance, EQB has also announced an increase in its quarterly dividend, now set at C$0.57. This dividend will be paid on December 31 to stockholders of record as of that date, marking an increase from the previous quarterly dividend of C$0.55. The annualized dividend stands at C$2.28, providing a yield of 2.2%. The ex-dividend date is scheduled for December 15. Currently, EQB’s dividend payout ratio is 31.28%.
Company Overview
EQB Inc., formerly known as Equitable Group Inc., is publicly traded on the Toronto Stock Exchange under the ticker symbol TSE: EQB. The company, through its wholly-owned subsidiary Equitable Bank, serves over 360,000 Canadians, establishing itself as the eighth largest independent Schedule I bank in the country. With a commitment to innovation in banking, Equitable Bank aims to drive significant changes in the financial landscape of Canada to enhance the lives of its customers. It is also recognized as one of Canada’s Top Employers, a distinction reflecting its investment in employee well-being and engagement.
This recent uptick in target price and dividend highlights the financial community’s confidence in EQB’s growth potential and stability in the Canadian banking sector.
