BMO Capital Markets Forecasts Strong Price Appreciation for Bank of Nova Scotia (TSE:BNS) Stock

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price hoisted by BMO Capital Markets from C$72.00 to C$84.00 in a report released on Monday morning,BayStreet.CA reports.

Other research analysts have also issued research reports about the stock. CIBC upgraded shares of 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 report on Friday, September 20th. Jefferies Financial Group lifted their price objective on Bank of Nova Scotia from C$65.00 to C$69.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Cormark decreased 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 report on Tuesday, August 20th. Cibc World Mkts raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. Finally, Royal Bank of Canada boosted their target price 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 report on Wednesday, August 28th. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently 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 opened at C$78.50 on Monday. Bank of Nova Scotia has a 52 week low of C$56.83 and a 52 week high of C$79.16. The firm has a market cap of C$97.34 billion, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. The firm’s 50-day simple moving average is C$73.29 and its 200 day simple moving average is C$67.50.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings results 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. 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 during the quarter, compared to the consensus estimate of C$8.50 billion. As a group, equities analysts forecast that Bank of Nova Scotia will post 7.1286267 earnings per share for the current year.

Bank of Nova Scotia Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Wednesday, October 2nd were paid a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 5.40%. The ex-dividend date of this dividend was 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.