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EQB Inc EQGPF


Primary Symbol: T.EQB

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 retiredcfon Jan 10, 2025 9:27am
36 Views
Post# 36397610

Raymond James Raises Target

Raymond James Raises TargetSeeing it as “an attractive choice to avoid housing risk,” Raymond James’ Stephen Boland increased his EQB Inc.  target to $121 from $112 with an “outperform” rating. The average is $118.30.

“EQB has a different mix of single-family housing loans compared to the Big 6 banks in Canada,” he said. “Their duration of loans is much shorter than the other larger banks. EQB has disclosed that 90 per cent of their single-family loans have already been renewed, with most paying a lower rate. The CMHC recently released a report on the housing market indicating that over 1.2 million mortgages will renew in 2025 for the first time in years. This indicates a substantial portion of Canadians will be suffering from ‘sticker shock’ as their 3-5 year mortgages renew at higher rates. We believe a substantial portion of these mortgages belong to the Big 6 banks. Notably, 85 per cent of those were contracted when the Bank of Canada rate was at or below 1.0 per cent.

“Additionally, we believe U.S. investors should take advantage of the mismatch in the currency, which is at a ~15 year low for the Canadian dollar. The average ROE for U.S. banks is in the 11.0-per-cent to 12.0-per-cent range. For U.S. investors, they would be buying a 15-per-cent ROE at a 30-per-cent discount on the multiple when factoring in the currency.”



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