Key Points
- Loblaw Companies Limited purchased 16,000 EQB shares at C$128.16 each, investing C$2.05 million and increasing its direct ownership to 1,612,100 shares worth approximately C$206.6 million.
- The purchase continues a series of recent EQB acquisitions by Loblaw, signaling sustained insider buying. EQB shares opened at C$129.60, with a 52-week range of C$83.93 to C$150.32.
- EQB raised its quarterly dividend to C$0.63 per share, implying an annualized dividend of C$2.52 and a 1.9% yield. Analysts maintain a consensus “Hold” rating with an average price target of C$139.10.
EQB Inc. (TSE:EQB - Get Free Report) insider Loblaw Companies Limited purchased 16,000 shares of the business's stock in a transaction on Thursday, September 10th. The shares were acquired at an average price of C$128.16 per share, for a total transaction of C$2,050,560.00. Following the completion of the purchase, the insider directly owned 1,612,100 shares of the company's stock, valued at approximately C$206,606,736. This trade represents a 1.00% increase in their ownership of the stock.
Loblaw Companies Limited also recently made the following trade(s):
- On Tuesday, September 8th, Loblaw Companies Limited acquired 16,000 shares of EQB stock. The stock was acquired at an average cost of C$130.24 per share, with a total value of C$2,083,840.00.
- On Monday, August 31st, Loblaw Companies Limited acquired 16,000 shares of EQB stock. The stock was acquired at an average cost of C$126.79 per share, with a total value of C$2,028,640.00.
- On Wednesday, September 2nd, Loblaw Companies Limited acquired 16,000 shares of EQB stock. The stock was acquired at an average price of C$127.81 per share, with a total value of C$2,044,960.00.
- On Thursday, September 3rd, Loblaw Companies Limited bought 8,000 shares of EQB stock. The shares were acquired at an average cost of C$133.12 per share, for a total transaction of C$1,064,960.00.
- On Monday, August 24th, Loblaw Companies Limited bought 8,000 shares of EQB stock. The shares were acquired at an average cost of C$133.47 per share, for a total transaction of C$1,067,760.00.
- On Wednesday, August 26th, Loblaw Companies Limited bought 8,000 shares of EQB stock. The shares were acquired at an average price of C$137.01 per share, for a total transaction of C$1,096,080.00.
- On Thursday, August 27th, Loblaw Companies Limited bought 16,000 shares of EQB stock. The shares were acquired at an average price of C$124.91 per share, for a total transaction of C$1,998,560.00.
- On Thursday, August 20th, Loblaw Companies Limited purchased 8,000 shares of EQB stock. The stock was acquired at an average cost of C$134.00 per share, with a total value of C$1,072,000.00.
- On Tuesday, August 4th, Loblaw Companies Limited purchased 8,000 shares of EQB stock. The stock was acquired at an average price of C$142.40 per share, with a total value of C$1,139,200.00.
- On Thursday, August 6th, Loblaw Companies Limited purchased 8,000 shares of EQB stock. The stock was acquired at an average price of C$137.62 per share, with a total value of C$1,100,960.00.
EQB Trading Up 0.8%
EQB stock opened at C$129.60 on Friday. EQB Inc. has a twelve month low of C$83.93 and a twelve month high of C$150.32. The stock's fifty day simple moving average is C$136.74 and its 200-day simple moving average is C$124.43. The firm has a market capitalization of C$5.52 billion, a P/E ratio of -462.86, a P/E/G ratio of 0.34 and a beta of 0.83.
EQB (TSE:EQB - Get Free Report) last announced its quarterly earnings data 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 negative return on equity of 0.07% and a negative net margin of 0.08%. Sell-side analysts predict that EQB Inc. will post 12.5988235 earnings per share for the current year.
EQB Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th will be given a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.52 dividend on an annualized basis and a yield of 1.9%. This is an increase from EQB's previous quarterly dividend of $0.61. EQB's dividend payout ratio is -828.57%.
Analyst Ratings Changes
EQB has been the topic of several analyst reports. Scotiabank reduced their target price on shares of EQB from C$141.00 to C$135.00 in a report on Monday, August 31st. Royal Bank Of Canada boosted their price target on shares of EQB from C$131.00 to C$146.00 and gave the stock an "outperform" rating in a report on Friday, August 28th. Canadian Imperial Bank of Commerce dropped their price objective 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. National Bank Financial raised their price objective on shares of EQB from C$120.00 to C$143.00 and gave the company a "sector perform" rating in a report on Thursday, August 13th. Finally, Desjardins reduced their price objective on shares of EQB from C$155.00 to C$150.00 and set a "buy" rating on the stock in a report on Friday, August 28th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of C$139.10.
Get Our Latest Stock Analysis on EQB
EQB Company Profile
(
Get Free Report)
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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