EQB (TSE:EQB) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

EQB Inc. (TSE:EQB) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$99.52 and traded as low as C$98.88. EQB shares last traded at C$99.29, with a volume of 151,467 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Cormark lowered shares of EQB from a “buy” rating to a “market perform” rating and dropped their price target for the company from C$131.00 to C$110.00 in a research note on Thursday, December 5th. CIBC lifted their target price on EQB from C$113.00 to C$130.00 in a research note on Tuesday, November 26th. TD Securities cut EQB from a “buy” rating to a “hold” rating and decreased their price target for the stock from C$126.00 to C$110.00 in a research note on Friday, December 6th. BMO Capital Markets raised their price target on EQB from C$106.00 to C$119.00 in a report on Monday, November 18th. Finally, Scotiabank reduced their price objective on shares of EQB from C$135.00 to C$130.00 in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, EQB presently has an average rating of “Hold” and a consensus price target of C$113.63.

EQB Price Performance

The business has a fifty day moving average of C$106.72 and a 200-day moving average of C$99.52. The stock has a market capitalization of C$3.81 billion, a price-to-earnings ratio of 10.43, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59.

EQB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.49 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.96 annualized dividend and a dividend yield of 1.97%. This is a boost from EQB’s previous quarterly dividend of $0.47. EQB’s payout ratio is currently 19.75%.

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.