Brokerages Set The Bank of Nova Scotia (TSE:BNS) Price Target at C$68.25

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) has received a consensus rating of “Hold” from the thirteen research firms that are presently covering the stock, Marketbeat reports. Eleven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is C$68.25.

Several brokerages have recently issued reports on BNS. TD Securities increased 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 note on Wednesday, August 28th. UBS Group set a C$67.00 price target on Bank of Nova Scotia and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. CIBC upgraded Bank of Nova Scotia from a “neutral” rating to an “outperform” rating and raised their price target for the company from C$78.00 to C$82.00 in a research note on Friday, September 20th. Cibc World Mkts upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 20th. Finally, Cormark cut their price target on Bank of Nova Scotia from C$68.00 to C$65.00 and set a “market perform” rating on the stock in a research note on Tuesday, August 20th.

Bank of Nova Scotia Trading Up 0.7 %

Shares of TSE BNS opened at C$72.01 on Wednesday. The stock has a market cap of C$89.29 billion, a P/E ratio of 12.61, a PEG ratio of 1.33 and a beta of 0.96. Bank of Nova Scotia has a 12-month low of C$55.20 and a 12-month high of C$74.25. The business’s fifty day simple moving average is C$67.61 and its 200-day simple moving average is C$65.85.

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, meeting the consensus estimate of C$1.63. The business had revenue of C$8.36 billion for the quarter, compared to analysts’ expectations of C$8.50 billion. Bank of Nova Scotia had a return on equity of 9.49% and a net margin of 25.38%. On average, equities analysts forecast that Bank of Nova Scotia will post 6.9630682 EPS for the current fiscal year.

Bank of Nova Scotia Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Tuesday, October 29th will be issued a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 5.89%. The ex-dividend date of this dividend is Wednesday, October 2nd. Bank of Nova Scotia’s payout ratio is 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.