EQB (TSE:EQB) Stock Price Passes Below 200 Day Moving Average - Here's Why

EQB Inc. (TSE:EQB - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$103.32 and traded as low as C$87.66. EQB shares last traded at C$90.50, with a volume of 93,396 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently commented on EQB. Desjardins lowered their price target on shares of EQB from C$130.00 to C$126.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Jefferies Financial Group set a C$129.00 target price on EQB and gave the company a "buy" rating in a report on Thursday, January 30th. National Bankshares raised their price target on EQB from C$109.00 to C$117.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Royal Bank of Canada reduced their price objective on EQB from C$153.00 to C$147.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Finally, Raymond James lifted their price objective on EQB from C$112.00 to C$121.00 and gave the stock an "outperform" rating in a research report on Friday, January 10th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of C$122.80.

EQB Trading Down 1.4 %

The stock has a market cap of C$3.54 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 0.34 and a beta of 1.59. The stock's 50-day moving average is C$98.05 and its 200-day moving average is C$103.16.

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EQB Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.23%. This is a boost from EQB's previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Friday, March 14th. EQB's dividend payout ratio is 29.31%.

EQB Company Profile

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.