EQB (TSE:EQB) Shares Pass Below Two Hundred Day Moving Average – What’s Next?

EQB Inc. (TSE:EQB) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$104.02 and traded as low as C$96.82. EQB shares last traded at C$97.31, with a volume of 66,398 shares changing hands.

Analysts Set New Price Targets

Several research firms have commented on EQB. Desjardins lowered their target price on shares of EQB from C$130.00 to C$126.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Scotiabank lowered their price objective on EQB from C$130.00 to C$119.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Royal Bank of Canada dropped their target price on EQB from C$153.00 to C$147.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Raymond James raised their price target on EQB from C$112.00 to C$121.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Finally, National Bankshares upped their price objective on shares of EQB from C$109.00 to C$117.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$122.80.

EQB Stock Down 0.6 %

The stock has a market cap of C$3.76 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59. The company’s fifty day moving average is C$103.07 and its 200 day moving average is C$104.02.

EQB Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.10%. This is a positive change from EQB’s previous quarterly dividend of $0.49. EQB’s dividend payout ratio (DPR) is currently 29.31%.

About EQB

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.