13:28:00 EDT Thu 16 May 2024
Enter Symbol
or Name
USA
CA



EQB Inc
Symbol EQB
Shares Issued 37,806,660
Close 2023-10-03 C$ 73.31
Market Cap C$ 2,771,606,245
Recent Sedar Documents

Globe says EQB vulnerable if there is a recession

2023-10-03 08:02 ET - In the News

The Globe and Mail reports in its Tuesday, Oct. 3, edition that EQB is a non-tech stock that has outperformed this year. The Globe's guest columnist Gordon Pape writes that EQB provides mortgage lending services through its wholly owned subsidiary Equitable Bank to individuals and businesses in Canadian urban markets, with a focus on entrepreneurs and new Canadians. Most bank stocks are in the red this year. Mr. Pape says EQB is a notable exception. The shares are up about 30 per cent so far in 2023. The stock hit a historic high of $84.79 in August. It has pulled back a little since then but is still outperforming the financial sector by a wide margin this year. Mr. Pape says EQB had record second quarter and first-half results and raised its dividend for the seventh consecutive quarter. The stock pays 38 cents a share ($1.52 a year), to yield 2 per cent at the current price. Mr. Pape says the stock has done well since he first recommended it over a decade ago. Mr. Pape says history, however, shows the share price is vulnerable if there is a recession, so some caution is in order. The Globe reported on Aug. 4 that Scotia Capital rated EQB "sector outperform" when it could be had for $81.37.

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