Shares of Bank of Nova Scotia (NYSE:BNS) have been assigned an average recommendation of “Buy” from the fifteen analysts that are currently covering the firm. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $69.40.
A number of equities analysts recently issued reports on the company. Dundee Securities assumed coverage on Bank of Nova Scotia in a report on Wednesday, September 21st. They issued a “buy” rating on the stock. Credit Suisse Group AG restated a “hold” rating and issued a $74.00 target price on shares of Bank of Nova Scotia in a report on Tuesday, May 31st. Royal Bank Of Canada lifted their target price on Bank of Nova Scotia from $72.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, August 31st. Scotiabank restated an “outperform” rating and issued a $76.00 target price (up from $70.00) on shares of Bank of Nova Scotia in a report on Thursday, September 1st. Finally, BMO Capital Markets restated a “buy” rating on shares of Bank of Nova Scotia in a report on Wednesday, July 6th.
Shares of Bank of Nova Scotia (NYSE:BNS) opened at 53.09 on Friday. The stock has a market capitalization of $63.96 billion, a P/E ratio of 12.40 and a beta of 1.19. Bank of Nova Scotia has a 52-week low of $35.01 and a 52-week high of $55.14. The firm’s 50-day moving average price is $52.88 and its 200-day moving average price is $50.39.
Bank of Nova Scotia (NYSE:BNS) last issued its quarterly earnings results on Tuesday, August 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by $0.30. Bank of Nova Scotia had a net margin of 20.84% and a return on equity of 14.04%. During the same period last year, the firm earned $1.45 EPS. Equities analysts forecast that Bank of Nova Scotia will post $4.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 27th. Investors of record on Tuesday, October 4th will be given a dividend of $0.5724 per share. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, September 30th. This represents a $2.29 dividend on an annualized basis and a yield of 4.31%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 51.98%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Inc. purchased a new stake in Bank of Nova Scotia during the second quarter worth about $120,000. Glenmede Trust Co. NA boosted its stake in Bank of Nova Scotia by 2.1% in the second quarter. Glenmede Trust Co. NA now owns 3,553 shares of the company’s stock worth $173,000 after buying an additional 74 shares during the last quarter. Signaturefd LLC boosted its stake in Bank of Nova Scotia by 29.2% in the second quarter. Signaturefd LLC now owns 3,555 shares of the company’s stock worth $174,000 after buying an additional 803 shares during the last quarter. BB&T Securities LLC purchased a new stake in Bank of Nova Scotia during the first quarter worth about $208,000. Finally, 1st Global Advisors Inc. purchased a new stake in Bank of Nova Scotia during the second quarter worth about $208,000. 49.26% of the stock is owned by hedge funds and other institutional investors.
About Bank of Nova Scotia
The Bank of Nova Scotia (Scotiabank or the Bank) is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and parts of Asia. The Company’s segments include Canadian Banking, International Banking, Global Banking and Markets (GBM), and Other.
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