Analysts Set The Bank of Nova Scotia (TSE:BNS) PT at C$68.25

Shares of The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) have received a consensus recommendation of “Hold” from the thirteen analysts that are covering the company, Marketbeat reports. Eleven research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is C$68.25.

A number of analysts recently issued reports on the company. Royal Bank of Canada raised their price target on Bank of Nova Scotia from C$62.00 to C$65.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 28th. BMO Capital Markets reduced their target price on Bank of Nova Scotia from C$74.00 to C$72.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 28th. Cormark reduced their target price 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. CIBC upgraded Bank of Nova Scotia from a “neutral” rating to an “outperform” rating and increased their target price for the stock from C$78.00 to C$82.00 in a research note on Friday, September 20th. Finally, 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.

Bank of Nova Scotia Price Performance

BNS stock opened at C$72.78 on Friday. Bank of Nova Scotia has a 1-year low of C$55.80 and a 1-year high of C$74.29. The company has a market capitalization of C$90.25 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.33 and a beta of 0.97. The business has a 50 day simple moving average of C$70.36 and a two-hundred day simple moving average of C$66.27.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last posted its earnings results on Tuesday, August 27th. The bank reported C$1.63 EPS for the quarter, meeting analysts’ consensus estimates of C$1.63. The firm 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 return on equity of 9.49% and a net margin of 25.38%. Sell-side analysts anticipate that Bank of Nova Scotia will post 7.1286267 EPS for the current fiscal year.

Bank of Nova Scotia Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Investors of record on Wednesday, October 2nd were given a $1.06 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $4.24 dividend on an annualized basis and a yield of 5.83%. Bank of Nova Scotia’s dividend 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.