Bank of Nova Scotia (TSE:BNS) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) from a hold rating to a buy rating in a research note issued to investors on Tuesday, Marketbeat reports. They currently have C$84.00 price target on the bank’s stock, up from their prior price target of C$71.00.

Several other research analysts also recently weighed in on BNS. CIBC upgraded Bank of Nova Scotia from a “neutral” rating to an “outperform” rating and upped their price target for the stock from C$78.00 to C$82.00 in a research note on Friday, September 20th. TD Securities upped their target price on shares of Bank of Nova Scotia from C$80.00 to C$82.00 in a research report on Friday, November 15th. BMO Capital Markets lifted their price target on shares of Bank of Nova Scotia from C$72.00 to C$84.00 in a report on Monday. Royal Bank of Canada increased their price objective on shares of Bank of Nova Scotia from C$62.00 to C$65.00 and gave the company a “sector perform” rating in a report on Wednesday, August 28th. Finally, Cormark reduced their target price on Bank of Nova Scotia from C$68.00 to C$65.00 and set a “market perform” rating on the stock in a report on Tuesday, August 20th. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bank of Nova Scotia presently has an average rating of “Moderate Buy” and a consensus price target of C$74.75.

Bank of Nova Scotia Stock Down 0.3 %

BNS stock opened at C$78.50 on Tuesday. The business’s 50-day moving average price is C$73.29 and its 200-day moving average price is C$67.50. The stock has a market cap of C$97.34 billion, a P/E ratio of 13.75, a PEG ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a twelve month low of C$56.83 and a twelve month high of C$79.16.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its quarterly earnings data on Tuesday, August 27th. The bank reported C$1.63 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of C$1.63. Bank of Nova Scotia had a net margin of 25.38% and a return on equity of 9.49%. The firm had revenue of C$8.36 billion during the quarter, compared to analysts’ expectations of C$8.50 billion. On average, equities research analysts expect that Bank of Nova Scotia will post 7.1286267 earnings per share for the current fiscal year.

Bank of Nova Scotia Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Wednesday, October 2nd were given a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date of this dividend was Wednesday, October 2nd. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 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.