Bank of Nova Scotia (TSE:BNS) Rating Increased to Strong-Buy at UBS Group

UBS Group upgraded shares of Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) from a hold rating to a strong-buy rating in a report published on Monday,Zacks.com reports.

Several other equities research analysts have also commented on BNS. Royal Bank of Canada upped their price objective 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. Cormark lowered their price objective 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 report on Tuesday, August 20th. Jefferies Financial Group upped their price objective on Bank of Nova Scotia from C$65.00 to C$69.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. CIBC upgraded Bank of Nova Scotia from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from C$78.00 to C$82.00 in a research report 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 report on Friday, September 20th. Seven analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$74.75.

Bank of Nova Scotia Trading Down 0.3 %

Shares of TSE:BNS opened at C$78.50 on Monday. Bank of Nova Scotia has a twelve month low of C$56.83 and a twelve month high of C$79.16. The company’s 50 day moving average is C$73.29 and its 200 day moving average is C$67.50. The company has a market cap of C$97.34 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings data on Tuesday, August 27th. The bank reported C$1.63 EPS for the quarter, hitting the consensus estimate of C$1.63. Bank of Nova Scotia had a return on equity of 9.49% and a net margin of 25.38%. The business had revenue of C$8.36 billion for the quarter, compared to analyst estimates of C$8.50 billion. Equities research analysts predict that Bank of Nova Scotia will post 7.1286267 earnings per share for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd were issued a $1.06 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $4.24 dividend on an annualized basis and a yield of 5.40%. Bank of Nova Scotia’s payout ratio is currently 74.26%.

About Bank of Nova Scotia

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.