Bank of Nova Scotia (The) (BNS) – What Are Analysts Thinking About This Stock?

Shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) have earned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $105.50.

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods initiated coverage on shares of Bank of Nova Scotia in a research note on Friday, August 21st. They set an “outperform” rating on the stock. TD raised shares of Bank of Nova Scotia to a “buy” rating in a research note on Wednesday, August 26th. TD Securities upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, August 25th. Weiss Ratings raised Bank of Nova Scotia from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, October 8th. Finally, National Bank Financial raised Bank of Nova Scotia from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, August 26th.

Hedge Funds Weigh In On Bank of Nova Scotia

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board acquired a new position in Bank of Nova Scotia during the 2nd quarter valued at about $1,016,738,000. Legal & General Group Plc purchased a new stake in Bank of Nova Scotia in the second quarter valued at about $709,837,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Bank of Nova Scotia in the second quarter valued at about $567,278,000. The Manufacturers Life Insurance Company acquired a new stake in Bank of Nova Scotia in the second quarter worth about $416,397,000. Finally, Wellington Management Group LLP acquired a new stake in Bank of Nova Scotia in the second quarter worth about $354,379,000. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Performance

BNS stock opened at $92.33 on Wednesday. Bank of Nova Scotia has a 1-year low of $63.99 and a 1-year high of $95.74. The business has a 50-day moving average price of $91.54 and a 200 day moving average price of $85.20. The company has a market capitalization of $112.35 billion, a P/E ratio of 15.24, a PEG ratio of 1.02 and a beta of 1.14. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.04 and a quick ratio of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Tuesday, August 25th. The bank reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.11. Bank of Nova Scotia had a net margin of 13.91% and a return on equity of 16.12%. The company had revenue of $7.52 billion for the quarter, compared to analysts’ expectations of $7.11 billion. During the same period in the prior year, the business earned $1.84 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts forecast that Bank of Nova Scotia will post 6.19 EPS for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Tuesday, October 6th will be given a dividend of C$1.14 per share. The ex-dividend date of this dividend is Tuesday, October 6th. This represents a $4.56 dividend on an annualized basis and a yield of 4.9%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 57.87%.

Bank of Nova Scotia Company Profile

Bank of Nova Scotia, operating under the Scotiabank name, is a Canadian financial services company that provides banking and related services to individuals, businesses, institutions and governments. Its principal businesses include Canadian Banking, International Banking, Global Wealth Management and Global Banking and Markets.

The company offers personal and commercial deposit accounts, mortgages, consumer and business loans, credit cards, payments and other financial products. Through its wealth management operations, Scotiabank provides investment, advisory, brokerage and private banking services.