Scotiabank (BNS) Earning Somewhat Positive Media Coverage, Study Shows

Media headlines about Scotiabank (NYSE:BNS) (TSE:BNS) have trended somewhat positive recently, according to Accern Sentiment. The research firm identifies negative and positive press coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Scotiabank earned a coverage optimism score of 0.14 on Accern’s scale. Accern also gave press coverage about the bank an impact score of 45.5133014972063 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.

These are some of the media headlines that may have impacted Accern Sentiment Analysis’s rankings:

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Shares of BNS traded down $1.44 during midday trading on Monday, hitting $60.26. 932,979 shares of the company traded hands, compared to its average volume of 791,040. Scotiabank has a 52 week low of $53.86 and a 52 week high of $66.78. The company has a market capitalization of $73,916.60, a PE ratio of 11.50, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.10.

Scotiabank (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Tuesday, February 27th. The bank reported $1.37 EPS for the quarter, beating the consensus estimate of $1.30 by $0.07. The business had revenue of $7.09 billion during the quarter, compared to the consensus estimate of $7.01 billion. Scotiabank had a net margin of 22.69% and a return on equity of 14.78%. The business’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.57 EPS. sell-side analysts expect that Scotiabank will post 5.49 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 26th. Stockholders of record on Tuesday, April 3rd will be given a dividend of $0.6454 per share. This represents a $2.58 annualized dividend and a dividend yield of 4.28%. This is a boost from Scotiabank’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, April 2nd. Scotiabank’s dividend payout ratio is currently 48.85%.

Scotiabank announced that its Board of Directors has initiated a stock repurchase plan on Monday, February 12th that allows the company to buyback outstanding shares. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Several research analysts have commented on BNS shares. Canaccord Genuity reissued a “buy” rating and set a $93.00 price objective on shares of Scotiabank in a report on Tuesday, December 5th. Zacks Investment Research raised shares of Scotiabank from a “sell” rating to a “hold” rating in a report on Wednesday, January 17th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $86.00.

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Scotiabank Company Profile

The Bank of Nova Scotia provides various financial services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. It offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.

Insider Buying and Selling by Quarter for Scotiabank (NYSE:BNS)

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