The Bank of Nova Scotia (TSE:BNS) Receives Average Rating of “Hold” from Analysts

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) has earned an average recommendation of “Hold” from the thirteen brokerages that are currently covering the firm, MarketBeat.com reports. Eleven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is C$68.25.

A number of research firms have recently weighed in on BNS. UBS Group set a C$67.00 target price on Bank of Nova Scotia and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Cormark dropped their price objective on Bank of Nova Scotia from C$68.00 to C$65.00 and set a “market perform” rating for the company in a research note on Tuesday, August 20th. TD Securities raised their target price on shares of Bank of Nova Scotia from C$69.00 to C$71.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Jefferies Financial Group upped their price target on shares of Bank of Nova Scotia from C$65.00 to C$69.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, CIBC raised shares of Bank of Nova Scotia from a “neutral” rating to an “outperform” rating and raised their price target for the stock from C$78.00 to C$82.00 in a report on Friday, September 20th.

Bank of Nova Scotia Stock Down 0.2 %

TSE:BNS opened at C$73.53 on Wednesday. The stock has a market cap of C$91.18 billion, a P/E ratio of 12.88, a PEG ratio of 1.33 and a beta of 0.96. The business’s 50-day moving average price is C$67.10 and its two-hundred day moving average price is C$65.74. Bank of Nova Scotia has a twelve month low of C$55.20 and a twelve month high of C$74.25.

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 for the quarter, meeting analysts’ consensus estimates of C$1.63. The business had revenue of C$8.36 billion for the quarter, compared to the consensus estimate of C$8.50 billion. Bank of Nova Scotia had a return on equity of 9.49% and a net margin of 25.38%. On average, equities research analysts expect that Bank of Nova Scotia will post 7.0938104 EPS for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 29th. Investors of record on Tuesday, October 29th will be given a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 5.77%. The ex-dividend date is Wednesday, October 2nd. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 74.26%.

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.