Bank of Nova Scotia (TSE:BNS) Upgraded at Bank of America

Bank of America upgraded shares of Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) from a neutral rating to a buy rating in a report published on Tuesday,BayStreet.CA reports. Bank of America currently has C$90.00 price target on the bank’s stock, up from their previous price target of C$73.00.

Several other research analysts have also issued reports on the stock. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating and lifted their price target for the stock from C$71.00 to C$84.00 in a research report on Tuesday. Cormark decreased 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 report on Tuesday, August 20th. CIBC raised Bank of Nova Scotia from a “neutral” rating to an “outperform” rating and upped their target price for the company from C$78.00 to C$82.00 in a report on Friday, September 20th. TD Securities lifted their price target on Bank of Nova Scotia from C$80.00 to C$82.00 in a research note on Friday, November 15th. Finally, Royal Bank of Canada upped their price objective on shares of Bank of Nova Scotia from C$62.00 to C$65.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 28th. Seven research 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$74.75.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at C$78.50 on Tuesday. The firm has a market capitalization 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 has a 1 year low of C$56.83 and a 1 year high of C$79.16. The stock has a fifty day moving average of C$73.29 and a two-hundred day moving average of C$67.50.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last posted its quarterly earnings data on Tuesday, August 27th. The bank reported C$1.63 EPS for the quarter, meeting analysts’ consensus estimates of C$1.63. The business had revenue of C$8.36 billion for the quarter, compared to analyst estimates 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 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 announced a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Wednesday, October 2nd were paid a $1.06 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $4.24 annualized dividend and a dividend yield of 5.40%. Bank of Nova Scotia’s dividend payout ratio (DPR) 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.