EQB (TSE:EQB) Share Price Passes Above 50-Day Moving Average - What's Next?

EQB Inc. (TSE:EQB - Get Free Report) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$104.85 and traded as high as C$108.87. EQB shares last traded at C$107.87, with a volume of 51,727 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on EQB shares. Scotiabank decreased their price objective on EQB from C$113.00 to C$109.00 in a research report on Monday, August 19th. Cormark reduced their price target on shares of EQB from C$121.00 to C$111.00 and set a "buy" rating for the company in a report on Thursday, August 29th. BMO Capital Markets raised their price objective on shares of EQB from C$104.00 to C$106.00 and gave the stock an "outperform" rating in a report on Friday, August 30th. CIBC boosted their price objective on shares of EQB from C$105.00 to C$113.00 in a research report on Friday, September 6th. Finally, Raymond James lowered their target price on EQB from C$110.00 to C$106.00 in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$106.56.

EQB Stock Performance

The company has a market cap of C$4.14 billion, a P/E ratio of 11.33, a P/E/G ratio of 0.34 and a beta of 1.59. The business's 50-day moving average price is C$104.85 and its 200 day moving average price is C$96.18.

EQB (TSE:EQB - Get Free Report) last issued its earnings results on Wednesday, August 28th. The company reported C$2.96 EPS for the quarter, topping the consensus estimate of C$2.93 by C$0.03. EQB had a return on equity of 14.70% and a net margin of 39.67%. The company had revenue of C$327.24 million during the quarter, compared to the consensus estimate of C$325.00 million. Equities research analysts forecast that EQB Inc. will post 12.5988235 earnings per share for the current year.

EQB Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 30th were given a $0.47 dividend. The ex-dividend date of this dividend was Friday, September 13th. This is a positive change from EQB's previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a dividend yield of 1.74%. EQB's dividend payout ratio is presently 19.75%.

EQB Company Profile

EQB Inc, through its subsidiary, Equitable Bank, provides personal and commercial banking services to retail and commercial customers in Canada. The company accepts term deposits and guaranteed investment certificates, high interest savings accounts, institutional deposit notes and covered bonds, as well as specialized financing solutions.