Bank of Nova Scotia (TSE:BNS) Price Target Raised to C$83.00

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price raised by Royal Bank of Canada from C$74.00 to C$83.00 in a research note released on Wednesday morning,BayStreet.CA reports. They currently have a sector perform rating on the bank’s stock.

BNS has been the topic of several other research reports. Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating and boosted their price target for the company from C$73.00 to C$90.00 in a research note on Tuesday, November 19th. National Bankshares boosted their target price on shares of Bank of Nova Scotia from C$66.00 to C$78.00 in a research note on Wednesday, November 20th. CIBC increased their target price on shares of Bank of Nova Scotia from C$82.00 to C$84.00 in a research report on Tuesday, November 26th. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating and boosted their price target for the company from C$71.00 to C$84.00 in a research report on Tuesday, November 19th. Finally, UBS Group raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$77.92.

Bank of Nova Scotia Stock Performance

Shares of Bank of Nova Scotia stock opened at C$74.10 on Wednesday. Bank of Nova Scotia has a twelve month low of C$60.68 and a twelve month high of C$80.14. The firm has a market cap of C$91.88 billion, a P/E ratio of 12.98, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. The firm’s 50-day simple moving average is C$76.94 and its 200-day simple moving average is C$70.56.

Bank of Nova Scotia Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Tuesday, January 7th will be issued a $1.06 dividend. This represents a $4.24 annualized dividend and a yield of 5.72%. The ex-dividend date is Tuesday, January 7th. Bank of Nova Scotia’s dividend payout ratio is 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.