Bank of Nova Scotia (TSE:BNS) Upgraded to Strong-Buy at Cibc World Mkts

Cibc World Mkts upgraded shares of Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) from a hold rating to a strong-buy rating in a research note published on Friday, Zacks.com reports.

Several other brokerages have also recently commented on BNS. Cormark decreased their target price on shares of Bank of Nova Scotia from C$68.00 to C$65.00 and set a market perform rating for the company in a report on Tuesday, August 20th. Jefferies Financial Group boosted their target price on Bank of Nova Scotia from C$65.00 to C$69.00 and gave the stock a hold rating in a report on Wednesday, August 28th. Royal Bank of Canada raised their price target on Bank of Nova Scotia from C$62.00 to C$65.00 and gave the company a sector perform rating in a research report on Wednesday, August 28th. BMO Capital Markets dropped their target price on shares of Bank of Nova Scotia from C$74.00 to C$72.00 and set a market perform rating on the stock in a research report on Wednesday, August 28th. Finally, National Bankshares lowered their price target on Bank of Nova Scotia from C$67.00 to C$66.00 and set a sector perform rating on the stock in a research note on Wednesday, May 29th. Eleven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of C$68.25.

Bank of Nova Scotia Stock Down 0.7 %

BNS opened at C$72.86 on Friday. Bank of Nova Scotia has a fifty-two week low of C$55.20 and a fifty-two week high of C$73.65. The firm has a market cap of C$90.35 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 1.33 and a beta of 0.96. The company’s 50-day moving average price is C$66.05 and its 200 day moving average price is C$65.49.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings results on Tuesday, August 27th. The bank reported C$1.63 earnings per share (EPS) for the quarter, hitting the consensus estimate of C$1.63. The company had revenue of C$8.36 billion during the quarter, compared to analysts’ expectations of C$8.50 billion. Bank of Nova Scotia had a return on equity of 9.49% and a net margin of 25.38%. Research analysts anticipate that Bank of Nova Scotia will post 7.0938104 earnings per share for the current year.

Bank of Nova Scotia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd will be issued a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date of this dividend is Wednesday, October 2nd. Bank of Nova Scotia’s dividend payout ratio is currently 74.26%.

About Bank of Nova Scotia

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.