Bank of Nova Scotia (TSE:BNS) Reaches New 52-Week High at $74.25

Shares of The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$74.25 and last traded at C$74.17, with a volume of 1556239 shares. The stock had previously closed at C$72.70.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. BMO Capital Markets cut their price target on Bank of Nova Scotia from C$74.00 to C$72.00 and set a “market perform” rating for the company in a research note on Wednesday, August 28th. TD Securities raised their price objective on Bank of Nova Scotia from C$69.00 to C$71.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. UBS Group set a C$67.00 price objective on Bank of Nova Scotia and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Cormark cut their price objective on Bank of Nova Scotia from C$68.00 to C$65.00 and set a “market perform” rating for the company in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada raised their price objective on Bank of Nova Scotia from C$62.00 to C$65.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 28th. Eleven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$68.25.

Bank of Nova Scotia Price Performance

The company has a market cap of C$91.69 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 1.33 and a beta of 0.96. The company has a 50-day moving average of C$66.36 and a 200 day moving average of C$65.56.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its quarterly earnings data on Tuesday, August 27th. The bank reported C$1.63 earnings per share (EPS) for the quarter, hitting the consensus estimate of C$1.63. The business had revenue of C$8.36 billion during the quarter, compared to the consensus estimate of C$8.50 billion. Bank of Nova Scotia had a net margin of 25.38% and a return on equity of 9.49%. Equities research analysts expect that The Bank of Nova Scotia will post 7.0938104 EPS for the current year.

Bank of Nova Scotia Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd will be paid a $1.06 dividend. This represents a $4.24 annualized dividend and a yield of 5.73%. The ex-dividend date is Wednesday, October 2nd. Bank of Nova Scotia’s payout ratio is currently 74.26%.

Bank of Nova Scotia Company Profile

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.