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EQB Inc T.EQB

Alternate Symbol(s):  EQGPF

EQB Inc. is a digital financial services company, with combined assets under management and administration. Through its subsidiary, Equitable Bank, offers banking services. It operates through two main divisions: Personal Banking and Commercial Banking. Personal Banking operates through five business lines: EQ Bank, residential lending, wealth decumulation, and consumer lending through partnerships, a segment added with the Concentra Bank acquisition, and payments as a service supporting its fintech partners. Its diversified product suite consists of deposits, single family residential mortgage loans, home equity lines of credit, reverse mortgages, insurance lending, and payment infrastructure partnerships. Commercial Banking operates through seven business lines: business enterprise solutions, commercial finance group, multi-unit insured, specialized finance, equipment leasing, credit union and Concentra trust. It provides personal and commercial banking through its EQ Bank platform.


TSX:EQB - Post by User

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Post by TimeScapeon Feb 23, 2021 1:02am
326 Views
Post# 32634122

Excellent earnings report

Excellent earnings reportEQB's Q4 earnings were the best ever.  Earnings per share up 29% to $4.13/sh, $3.98 adjusted.  That's a run rate of about $16 a year.  Share price of $124 is only about 8.5 times that.  This one and GoEasy are two very rapidly growing financial companies trading at very cheap multiples.  Per the news release - "momentum has continued into 2021 as account openings are increasing by the hundreds every day."  Their digital platform means their costs are significantly lower than for the big banks, and their ROE is superior.  The dividend can't be raised yet due to covid rules imposed on regulated banks from OFSI, but I would expect a sizeable bump once that rule is lifted.
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