EQB.TO - Equitable Group Inc.

Toronto - Toronto Delayed Price. Currency in CAD
100.80
+0.52 (+0.52%)
As of 11:36AM EDT. Market open.
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Previous Close100.28
Open100.99
Bid100.49 x 0
Ask100.77 x 0
Day's Range99.52 - 101.11
52 Week Range56.12 - 104.50
Volume19,419
Avg. Volume44,273
Market Cap1.681B
Beta (3Y Monthly)1.58
PE Ratio (TTM)9.41
EPS (TTM)10.71
Earnings DateNov 6, 2019 - Nov 11, 2019
Forward Dividend & Yield1.32 (1.31%)
Ex-Dividend Date2019-09-12
1y Target Est100.00
  • CNW Group

    Equitable Group Announces Conversion Results for Series 3 Preferred Shares

    TORONTO , Sept. 16, 2019 /CNW/ - Equitable Group Inc. (TSX: EQB and EQB.PR.C) ("Equitable" or the "Company") announced today that none of its outstanding 3,000,000 Non-cumulative Redeemable ...

  • CNW Group

    Equitable, Canada's Challenger Bank™ to Join S&P/TSX Composite Index

    TORONTO, Sept. 16, 2019 /CNW/ - Equitable Group Inc. (TSX:EQB and EQB.PR.C) ("Equitable" or the "Company") today announced that it will be included in the S&P/TSX Composite Index effective September 23, 2019, a milestone for the Company and a reflection of the growing value of its subsidiary, Equitable Bank, Canada's Challenger BankTM. Considered the principal benchmark measure for Canadian equity markets, the S&P/TSX Composite Index consists of the largest Canadian companies by market capitalization and liquidity and its constituents include Canada's other eight publicly listed Schedule I banks. "Inclusion in the Index reflects Equitable's strong and steady value creation over the past decade and, more recently, the growth we've delivered as Canada's Challenger BankTM," said Andrew Moor, President and Chief Executive Officer.

  • Don’t-Pay-Till-You-Die Reverse Mortgages Are Booming in Canada
    Bloomberg

    Don’t-Pay-Till-You-Die Reverse Mortgages Are Booming in Canada

    (Bloomberg) -- Reverse mortgages are surging in Canada as more older people join the country’s debt bandwagon.If you’re 55 or older, you can borrow as much as 55% of the value of your home. Principal and compound interest don’t have to be paid back until you sell the home or die. To keep the loan in good standing, homeowners only need to pay property tax and insurance, and maintain the home in good repair.“We’ve only been in this market for 18 months, but applications are jumping,” and have tripled over the past year, Andrew Moor, chief executive officer at Equitable Group Inc., said in an interview. The company, which operates Equitable Bank, sees the reverse mortgage sector expanding by about 25% a year. “Canadians are getting older and there is an opportunity there.”Outstanding balances on reverse mortgages have more than doubled in less than four years to C$3.12 billion ($2.37 billion), excluding foreign currency amounts, according to June data from the country’s banking regulator. Although they represent less than one percentage point of the C$1.2 trillion of residential mortgages issued by chartered banks, they’re growing at a much faster pace. Reverse mortgages rose 22% in June from the same month a year earlier, versus 4.8% for the total market.The fact that these niche products are growing so quickly offers a glimpse into how some seniors are becoming part of Canada’s new debt reality. After a decades-long housing boom, the nation has the highest household debt load in the Group of Seven, one reason Bank of Canada Governor Stephen Poloz may be reluctant to join the global monetary-policy easing trend.More seniors are entering retirement with debt and the cost of rent has shot up in many cities, making downsizing difficult amid hot real estate markets. Reverse mortgages offer a new source of income.Canada’s big five banks have so far shied away from the product. Only two lenders offer them in Canada. HomeEquity Bank, whose reverse mortgage has been on the market for 30 years, dominates the space with C$3.11 billion on its books. Equitable Bank, a relatively new player, has C$10.1 million. Shares in parent Equitable Group have surged 75% to a record this year.Critics say reverse mortgages are a high-cost solution that should only be used as a last resort.“When they think of their cash flow, they’re not going to get kicked out of their house, but in reality, it really has the ability to erode the asset of the borrower,” Shawn Stillman, a broker at Mortgage Outlet, said by phone from Toronto.Higher RatesInterest rates are typically much higher than those for conventional mortgages. For example, HomeEquity Bank and Equitable Bank charge 5.74% for a five-year fixed mortgage. Conventional five-year fixed mortgages are currently being offered online for as low as 2.4%.Atul Chandra, chief financial officer at HomeEquity Bank, said the higher rates are justified because the lender doesn’t receive any payments over the course of the loan.“Our time horizon for getting the cash is much longer, and generally the longer you wait for your cash to come back to you, the more you need to charge,” Chandra said in a telephone interview.Most DelinquentExecutives at HomeEquity Bank and Equitable say they are focusing on educating people about reverse mortgages to avoid mistakes that were made in the U.S. during the housing crisis -- including aggressive sales tactics.While delinquency rates on regular mortgages are still low for seniors, they were the highest among all age groups in the first quarter, at 0.36%, according to data from the federal housing agency. The 65-plus demographic took over as the most delinquent group at the end of 2015. For non-mortgage debt, delinquency rates in the 65-plus category have seen the biggest increases over the past several quarters, Equifax data show.Reverse mortgages aren’t included in typical delinquency rate measures -- borrowers can’t be late on payments because there are no payments -- but they can be in default if they fail to pay taxes or insurance, or let the home fall into disrepair. However default rates for reverse mortgages have remained stable, even with the strong growth in volumes, said HomeEquity’s Chandra. According to a scenario provided by HomeEquity Bank, a borrower who took out a reverse mortgage of C$150,000 at an interest rate of 5.74% would owe C$199,058 five years later. A home worth C$750,000 when the reverse mortgage was taken out would be worth C$869,456 five years later, assuming 3% annual home price appreciation, meaning total equity would have grown by about C$70,000.Read more on Canada’s household debt challenge:Why the Next Recession Will Hit Canadians Harder Than AmericansAs Helocs Morph, the Bank of Canada Asks Lenders for DetailsDrowning in Debt, Freaked-Out Canadians Brace for a ReckoningTo contact the reporters on this story: Chris Fournier in Ottawa at cfournier3@bloomberg.net;Paula Sambo in Toronto at psambo@bloomberg.netTo contact the editors responsible for this story: Theophilos Argitis at targitis@bloomberg.net, Jacqueline ThorpeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • CNW Group

    S&P Dow Jones Indices Announces Changes to the S&P/TSX Composite Index

    TORONTO , Sept. 13, 2019 /CNW/ - S&P Dow Jones Indices ("S&P DJI") today announces the rebalancing results for the S&P/TSX Composite Index. The following changes will be effective prior to the ...

  • 2 Reasons to Bet on Canada Housing in 2020
    The Motley Fool

    2 Reasons to Bet on Canada Housing in 2020

    Canada housing is back, and that has propelled housing stocks like Equitable Group Inc. (TSX:EQB) to all-time highs.

  • 1 Stock to Sell as Housing Roars Back
    The Motley Fool

    1 Stock to Sell as Housing Roars Back

    Equitable Group Inc. (TSX:EQB) stock has soared in 2019, but investors may want to consider taking profits in September.

  • CNW Group

    Equitable Group Announces Dividend Rates for Series 3 and Series 4 Preferred Shares

    TORONTO, Sept. 3, 2019 /CNW/ - Equitable Group Inc. (TSX:EQB and EQB.PR.C) ("Equitable" or the "Company") today announced the dividend rates applicable to the non-cumulative redeemable 5-year rate reset Preferred Shares, Series 3 (the "Series 3 Preferred Shares") and the non-cumulative floating rate Preferred Shares, Series 4 ("Series 4 Preferred Shares"). Holders of Series 3 Preferred Shares, should any remain outstanding after September 30, 2019 will be entitled to receive fixed rate non-cumulative preferential cash dividends on a quarterly basis, as and when declared by the Board of Directors of Equitable. The dividend rate for the five-year period commencing on September 30, 2019 to, but excluding September 30, 2024 will be 5.969% per annum, or $0.373063 per share per quarter, being equal to the sum of the five-year Government of Canada bond yield determined as of August 30, 2019 plus 4.78%, in accordance with the terms of the Series 3 Preferred Shares.

  • CNW Group

    Equitable Bank Launches Empire Life Partnership for CSV Line of Credit

    The new partnership will enable Empire Life Whole Life Policy Owners to access funds through an Equitable Bank CSV Line of Credit TORONTO , Sept. 3, 2019 /CNW/ - Equitable Bank, a wholly-owned subsidiary ...

  • Have Insiders Been Selling Equitable Group Inc. (TSE:EQB) Shares?
    Simply Wall St.

    Have Insiders Been Selling Equitable Group Inc. (TSE:EQB) Shares?

    We often see insiders buying up shares in companies that perform well over the long term. On the other hand, we'd be...

  • CNW Group

    Equitable Group Announces Conversion Privilege of Non-Cumulative Rate Reset Preferred Shares, Series 3

    TORONTO, Aug. 22, 2019 /CNW/ - Equitable Group Inc. (TSX:EQB and EQB.PR.C) ("Equitable" or the "Company") today announced that it does not intend to exercise its right to redeem all or any part of its currently outstanding 3,000,000 non-cumulative redeemable 5-year rate reset Preferred Shares, Series 3 (the "Series 3 Preferred Shares") on September 30, 2019 (the "Conversion Date"). As a result, and subject to certain terms of the Series 3 Preferred Shares, the holders of the Series 3 Preferred Shares have the right, at their option, to convert all or part of their Series 3 Preferred Shares, on a one-for-one basis, into non-cumulative floating rate Preferred Shares, Series 4 ("Series 4 Preferred Shares") on September 30, 2019. Holders who do not exercise their right to convert their Series 3 Preferred Shares into Series 4 Preferred Shares will retain their Series 3 Preferred Shares, unless automatically converted in accordance with the terms below.

  • CNW Group

    Equitable Bank Announces Intention to Develop a Covered Bond Program

    TORONTO, Aug. 21, 2019 /CNW/ - Equitable Group Inc. (TSX:EQB and EQB.PR.C) ("Equitable" or the "Company") today announced that it has selected Barclays Bank PLC ("Barclays") and TD Securities ("TD") to assist the Company's subsidiary, Equitable Bank, with developing a covered bond funding program. Management's goal is to launch the program as early as 2020, subject to regulatory approval of its program and market conditions.

  • 2 Top Real Estate Stocks to Buy to Benefit From Canada’s Housing Boom
    The Motley Fool

    2 Top Real Estate Stocks to Buy to Benefit From Canada’s Housing Boom

    Equitable Group Inc. (TSX:EQB) is one of the two top real-estate stocks that will continue to benefit from Canada;s housing boom.

  • Thomson Reuters StreetEvents

    Edited Transcript of EQB.TO earnings conference call or presentation 31-Jul-19 12:30pm GMT

    Q2 2019 Equitable Group Inc Earnings Call

  • Revealed: This Little-Known Bank Stock Is Poised to Crush the Competition
    The Motley Fool

    Revealed: This Little-Known Bank Stock Is Poised to Crush the Competition

    Equitable Group Inc. (TSX:EQB) is quietly posting terrific numbers. Here's why it could easily outperform the others in Canada's banking industry going forward.

  • Does The Equitable Group Inc. (TSE:EQB) Share Price Tend To Follow The Market?
    Simply Wall St.

    Does The Equitable Group Inc. (TSE:EQB) Share Price Tend To Follow The Market?

    If you're interested in Equitable Group Inc. (TSE:EQB), then you might want to consider its beta (a measure of share...

  • The Top Dividend Growth Stock on the TSX Index
    The Motley Fool

    The Top Dividend Growth Stock on the TSX Index

    Equitable Group Inc's (TSX:EQB) stock offers value, income and growth. No Canadian Dividend Aristocrat has matched its pace of dividend growth.

  • CNW Group

    IIROC Trade Resumption - EQB

    TORONTO , July 31, 2019 /CNW/ - Trading resumes in: Company: Equitable Group Inc. TSX Symbol: EQB (All Issues) Resumption (ET): 8:00 AM IIROC can make a decision to impose a temporary suspension (halt) ...

  • CNW Group

    Equitable Group Reports Record Results, Increases Dividend and Announces Intention to Increase Rate of Dividend Growth

    TORONTO , July 30, 2019 /CNW/ -   Equitable Group Inc. (TSX: EQB and EQB.PR.C) ("Equitable" or the "Company") today reported record financial results for the three and six months ended ...

  • CNW Group

    IIROC Trading Halt - EQB

    TORONTO , July 30, 2019 /CNW/ - The following issues have been halted by IIROC: Company: Equitable Group Inc. TSX Symbol: EQB (all issues) Reason: Pending News Halt Time (ET): 2:32:00 PM IIROC can make ...

  • 3 Reasons Canada Housing Is Poised for a Rebound in 2020
    The Motley Fool

    3 Reasons Canada Housing Is Poised for a Rebound in 2020

    The housing market looks much healthier this summer, and that has pushed stocks like Home Capital Group Inc. (TSX:HCG) to 52-week highs.

  • CNW Group

    Equitable Bank Launches BMO Partnership for CSV Line of Credit

    The new partnership will enable BMO Whole Life Policy Owners to access funds through an Equitable Bank CSV Line of Credit TORONTO , July 8, 2019 /CNW/ - Equitable Bank, a wholly-owned subsidiary of Equitable ...

  • Is This Canadian Bank at Risk?
    The Motley Fool

    Is This Canadian Bank at Risk?

    With Canadian debt so high, there is a good chance that a recession will occur. Should you buy shares of banks like Equitable Group Inc. (TSX:EQB) today?

  • Boost Your After-Tax Income: Banking Edition
    The Motley Fool

    Boost Your After-Tax Income: Banking Edition

    Don’t fret over the tax deductions and your lower disposable income. You can boost after-income by investing in bank stocks like Laurentian Bank of Canada (TSX:LB) and Equitable Group Inc. (TSX:EQB).

  • CNW Group

    Equitable Bank Renews $400 Million Secured Backstop Facility

    TORONTO, June 19, 2019 /CNW/ - Equitable Group Inc. (TSX:EQB and EQB.PR.C) ("Equitable" or "Company") today announced it has closed a $400 million secured backstop liquidity facility with a syndicate of Canadian bank lenders led by The Toronto-Dominion Bank and including Bank of Montreal, CIBC, National Bank, and Scotiabank. The new 2-year facility replaces a more expensive maturing backstop and results in savings to the Company of approximately $1.6 million per quarter ($0.29 of annualized EPS benefit) as compared with Q1 2019.  The cost of the new facility, on an undrawn basis, is 60 basis points or $2.4 million per annum. The interest rate on any funds drawn under the facility would be equal to CDOR plus 125 basis points, which makes it competitive with the Bank`s most recent Deposit Note issuance.  The Company did not draw on its previous facility that was put in place following a period of funding market instability in the spring of 2017 and does not anticipate drawing on the new facility.