Is Equitable Bank a good buy?
Equitable Group Inc has 22.34% upside potential, based on the analysts' average price target. Is
| High Forecast | C$111.00 |
|---|---|
| Average Forecast | C$102.13 |
| Low Forecast | C$95.00 |
Equitable Bank manages over $67.9 billion in assets and is a wholly-owned subsidiary of EQB Inc. It was founded in 1970 as The Equitable Trust Company and has become Canada's seventh largest Schedule I bank.
EQ Bank, Canada's seventh-largest bank, grew its adjusted net income last fiscal year by 11.2% while the big banks recorded between 0.7% growth and a 23% fall in earnings. EQ's non-interest expenses rose 15.5% while at the top three banks they rose over 20%.
EQ Bank launched on January 14, 2016, as a direct banking operation of Equitable Bank. As a completely online banking service, EQ Bank has no branch locations. It does not offer cheques to its customers. EQ Bank is CDIC insured under Equitable Bank.
Is my money safe at EQ Bank? Even though it's an online institution, EQ Bank safeguards customers' savings the same way bigger banks do, by purchasing protection through Canada Deposit Insurance Corporation, or CDIC.
Is TSE:EQB a Buy, Sell or Hold? Equitable Group Inc has a conensus rating of Moderate Buy which is based on 6 buy ratings, 1 hold ratings and 1 sell ratings. What is Equitable Group Inc's price target? The average price target for Equitable Group Inc is C$103.85.
A wholly owned subsidiary of EQB Inc., Equitable Bank, Canada's Challenger Bank™, is the seventh largest bank in Canada by assets and serves more than 578,000 customers. Equitable Bank's subsidiaries Concentra Bank and Concentra Trust support Canadian credit unions and their more than 6 million members.
| Name | Equities | % |
|---|---|---|
| Arise BV 12.76 % | 481,581,275 | 12.76 % |
| James Mwangi 3.387 % | 127,809,180 | 3.387 % |
| Equity Bank Ltd. Employee Stock Ownership Plan 3.087 % | 116,496,500 | 3.087 % |
| Fortress Highlands Ltd. 2.677 % | 101,010,000 | 2.677 % |
(NYSE: EQBK) (“Equity” or the “Company”), the Wichita-based holding company of Equity Bank, announced it completed its merger with Rockhold BanCorp (“Rockhold”), the parent company of the Bank of Kirksville in Kirksville, Missouri.
Is EQ Bank a legitimate bank?
We're a trade name of Equitable Bank, a federally regulated financial institution. That means your funds are eligible for deposit insurance coverage.
EQB is a dividend paying company with a current yield of 1.7% that is well covered by earnings.
Equitable Bank is a federally regulated deposit taking institution and is authorized to accept deposits in all provinces and territories across Canada.
Founded over 50 years ago, Equitable manages more than $67.9B in assets and has grown to become the country's seventh largest independent Schedule I bank serving more than a quarter million Canadians by providing diversified personal and commercial banking services.
Winner: EQ Bank.
With its high interest rates on cash holdings (that are more than ten times what Tangerine offers) and no fees, EQ Bank is the clear champ. Interest is calculated daily on the total closing balance and paid monthly.
EQ Bank Card:
You can withdraw money loaded on your card for free from any ATM in Canada. We don't charge any fees for any ATM withdrawals in Canada. Plus, we reimburse any fees or surcharges charged by Canadian ATM providers within 10 business days. Learn more about the EQ Bank Card (Footnote 4).
- Slow bank-to-bank withdrawals. You may need to wait several business days to withdraw funds from your account via bank-to-bank transfer.
- Maximum balance for EQ Bank Personal Account. You can only hold up to $200,000 in an EQ Bank Personal Account ($500,000 for joint account holders).
- No physical locations.
In private banks, HDFC Bank is the most preferred bank to invest across FD tenures by the investors. It's the second bank with 8 percent of total bank deposits across tenures. Among the private banks, it has 28 percent of market share in term deposits.
EQ Bank Savings Plus Account is distinctly different
In addition to making unlimited free bill payments and e-transfers to any other Canadian bank, customers can make mobile cheque deposits and — as of recently — buy GICs at very attractive rates directly from their Savings Plus account.
Is Equitable Bank B lender?
Equitable Bank is a Schedule I lender in Canada, meaning that it is federally regulated. However, although it is a large independent lender, it is considered a B Lender, since it provides a lower barrier of entry to qualification but with higher rates compared to the larger banks.
PNC Financial's analyst rating consensus is a Moderate Buy. This is based on the ratings of 21 Wall Streets Analysts.
- Bank of America Private Bank.
- Chase Private Client.
- Morgan Stanley CashPlus.
- HSBC Premier Checking.
- TD Bank Private Banking.
- PNC Private Bank Checking.
- Truist Wealth Checking.
- Santander Private Client Checking.
““Among the new generation virtual banks, EQ Bank is really competitive and worth consideration for selecting it as a conduit for savings under TFSA, RRSP etc.”
