Key Points
- Loblaw Companies Limited bought 8,000 EQB shares at C$127.05 each, investing C$1.02 million and increasing its stake to 1,780,100 shares valued at roughly C$226.2 million.
- EQB shares opened at C$126.20, below their 50-day moving average of C$134.07 but near the 200-day average of C$125.09. Analysts’ consensus rating was “Hold,” with an average price target of C$139.10.
- EQB increased its quarterly dividend from C$0.61 to C$0.63 per share, equivalent to C$2.52 annually and a 2.0% yield, while recent commentary highlighted ongoing growth alongside pressure in the credit portfolio.
EQB Inc. (TSE:EQB - Get Free Report) Director Andrew Michael Bunston purchased 200 shares of the company's stock in a transaction dated Tuesday, September 22nd. The shares were purchased at an average price of C$126.37 per share, for a total transaction of C$25,274.00. Following the completion of the purchase, the director owned 200 shares of the company's stock, valued at approximately C$25,274. This trade represents a ∞ increase in their ownership of the stock.
EQB Stock Down 0.1%
TSE EQB opened at C$126.20 on Friday. The stock has a market capitalization of C$4.62 billion, a P/E ratio of -450.71, a P/E/G ratio of 0.34 and a beta of 0.83. EQB Inc. has a 52-week low of C$83.93 and a 52-week high of C$150.32. The firm has a 50-day moving average price of C$134.07 and a 200 day moving average price of C$125.09.
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 for the quarter. EQB had a negative return on equity of 0.07% and a negative net margin of 0.08%.The company had revenue of C$393.04 million for the quarter. On average, equities research analysts expect that EQB Inc. will post 12.5988235 earnings per share for the current fiscal year.
EQB Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.0%. This is an increase from EQB's previous quarterly dividend of $0.61. EQB's payout ratio is -828.57%.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the company. Raymond James Financial lowered EQB from a "hold" rating to a "strong sell" rating and dropped their price objective for the stock from C$136.00 to C$120.00 in a report on Friday, August 28th. TD raised their target price on EQB from C$123.00 to C$154.00 and gave the company a "buy" rating in a report on Friday, August 14th. Jefferies Financial Group cut their price target on shares of EQB from C$128.00 to C$127.00 in a report on Thursday, September 3rd. Royal Bank Of Canada raised their price objective on shares of EQB from C$131.00 to C$146.00 and gave the company an "outperform" rating in a research note on Friday, August 28th. Finally, National Bank Financial boosted their price objective on shares of EQB from C$120.00 to C$143.00 and gave the stock a "sector perform" rating in a report on Thursday, August 13th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, EQB currently has an average rating of "Hold" and an average price target of C$139.10.
Check Out Our Latest Stock Analysis on EQB
EQB News Roundup
Here are the key news stories impacting EQB this week:
- Positive Sentiment: Director Andrew Michael Bunston purchased 200 shares for approximately C$25,274, establishing a direct position in EQB. While relatively small, the open-market purchase may indicate confidence in the company’s valuation and outlook. EQB insider trading information
- Positive Sentiment: Strategic investor Loblaw Companies Limited bought an additional 24,000 EQB shares across September 24 and 25 for a combined C$3.02 million. Loblaw’s ownership increased to 1,780,100 shares, reinforcing a sizable shareholder commitment and potentially supporting investor sentiment. EQB insider trading information
- Neutral Sentiment: At the CIBC investor conference, EQB discussed business growth while also acknowledging pressure in its credit portfolio. The combination suggests that expansion remains intact, but investors are likely focused on loan quality, provisions and potential impacts on future earnings. EQB at CIBC investor conference
- Negative Sentiment: Credit tension highlighted at the conference could weigh on EQB’s near-term results if rising delinquencies or provisions offset loan and revenue growth. This risk may explain why the stock remains below its 50-day moving average despite trading near its 200-day average.
About EQB
(
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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