Bank of Nova Scotia (BNS) Receives $95.00 Average PT from Brokerages

Shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) have been assigned an average recommendation of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $90.00.

A number of research firms have issued reports on BNS. Desjardins restated an “average” rating and set a $85.00 price target on shares of Bank of Nova Scotia in a research note on Thursday. Zacks Investment Research downgraded Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research note on Tuesday, October 30th. Finally, Canaccord Genuity downgraded Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th.

Shares of Bank of Nova Scotia stock traded up $0.12 during trading hours on Monday, reaching $54.28. 108,844 shares of the stock traded hands, compared to its average volume of 875,218. The company has a market cap of $66.56 billion, a P/E ratio of 10.36, a P/E/G ratio of 1.50 and a beta of 1.25. Bank of Nova Scotia has a one year low of $52.63 and a one year high of $66.78. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.09.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Tuesday, August 28th. The bank reported $1.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.39. The business had revenue of $7.18 billion during the quarter, compared to the consensus estimate of $7.34 billion. Bank of Nova Scotia had a return on equity of 14.62% and a net margin of 21.55%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.66 EPS. Research analysts anticipate that Bank of Nova Scotia will post 5.42 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 29th. Investors of record on Tuesday, October 2nd were paid a dividend of $0.6539 per share. The ex-dividend date of this dividend was Monday, October 1st. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $0.64. This represents a $2.62 dividend on an annualized basis and a dividend yield of 4.82%. Bank of Nova Scotia’s payout ratio is 50.19%.

Several large investors have recently made changes to their positions in BNS. Toronto Dominion Bank grew its stake in shares of Bank of Nova Scotia by 37.5% during the 2nd quarter. Toronto Dominion Bank now owns 20,945,499 shares of the bank’s stock valued at $1,199,742,000 after acquiring an additional 5,709,563 shares during the period. Bank of Montreal Can grew its stake in shares of Bank of Nova Scotia by 8.0% during the 3rd quarter. Bank of Montreal Can now owns 50,478,972 shares of the bank’s stock valued at $3,010,061,000 after acquiring an additional 3,741,346 shares during the period. Fiera Capital Corp grew its stake in shares of Bank of Nova Scotia by 51.3% during the 2nd quarter. Fiera Capital Corp now owns 6,500,295 shares of the bank’s stock valued at $368,111,000 after acquiring an additional 2,204,950 shares during the period. Addenda Capital Inc. grew its stake in shares of Bank of Nova Scotia by 96.5% during the 2nd quarter. Addenda Capital Inc. now owns 2,867,998 shares of the bank’s stock valued at $170,420,000 after acquiring an additional 1,408,794 shares during the period. Finally, OMERS ADMINISTRATION Corp grew its stake in shares of Bank of Nova Scotia by 20.1% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 6,920,196 shares of the bank’s stock valued at $391,607,000 after acquiring an additional 1,159,645 shares during the period. Institutional investors own 46.70% of the company’s stock.

Bank of Nova Scotia 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.

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Analyst Recommendations for Bank of Nova Scotia (NYSE:BNS)

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