Bank of Nova Scotia (NYSE:BNS) Upgraded to Equal Weight at Barclays

Barclays upgraded shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) from an underweight rating to an equal weight rating in a research report sent to investors on Thursday, Marketbeat Ratings reports.

BNS has been the subject of a number of other research reports. Cibc World Mkts upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. TD Securities upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Bank of America upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

Bank of Nova Scotia Trading Up 0.4 %

Shares of NYSE:BNS opened at $56.45 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. The company’s 50-day moving average price is $53.42 and its 200 day moving average price is $49.42. The company has a market cap of $70.25 billion, a PE ratio of 13.50, a P/E/G ratio of 1.51 and a beta of 1.05. Bank of Nova Scotia has a fifty-two week low of $41.80 and a fifty-two week high of $56.71.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Tuesday, August 27th. The bank reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.01. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. The company had revenue of $8.36 billion for the quarter, compared to analysts’ expectations of $8.53 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. Sell-side analysts anticipate that Bank of Nova Scotia will post 4.53 earnings per share for the current year.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Investors of record on Wednesday, October 2nd were issued a $0.768 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $3.07 dividend on an annualized basis and a dividend yield of 5.44%. Bank of Nova Scotia’s payout ratio is currently 74.88%.

Institutional Trading of Bank of Nova Scotia

A number of large investors have recently added to or reduced their stakes in the business. Mather Group LLC. increased its holdings in shares of Bank of Nova Scotia by 1,388.9% in the second quarter. Mather Group LLC. now owns 536 shares of the bank’s stock valued at $25,000 after buying an additional 500 shares in the last quarter. Blue Trust Inc. raised its position in shares of Bank of Nova Scotia by 3,127.8% during the second quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock worth $27,000 after purchasing an additional 563 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Bank of Nova Scotia by 1,588.2% during the third quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock valued at $47,000 after purchasing an additional 810 shares during the last quarter. City State Bank acquired a new position in shares of Bank of Nova Scotia in the 3rd quarter valued at $57,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Bank of Nova Scotia by 102.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,605 shares of the bank’s stock valued at $83,000 after buying an additional 811 shares in the last quarter. 49.13% of the stock is currently owned by institutional investors.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.