Bank of Nova Scotia (TSE:BNS) Given New C$84.00 Price Target at CIBC

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price objective raised by CIBC from C$82.00 to C$84.00 in a report published on Tuesday morning,BayStreet.CA reports.

Several other research analysts have also recently weighed in on the company. Royal Bank of Canada increased 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. Barclays upgraded shares of Bank of Nova Scotia from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 21st. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating and increased their target price for the stock from C$71.00 to C$84.00 in a research report on Tuesday, November 19th. TD Securities lifted their price target on shares of Bank of Nova Scotia from C$80.00 to C$82.00 in a research report on Friday, November 15th. Finally, UBS Group raised Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Bank of Nova Scotia currently has a consensus rating of “Moderate Buy” and a consensus target price of C$76.00.

Bank of Nova Scotia Stock Performance

Shares of BNS opened at C$79.09 on Tuesday. The firm’s 50-day simple moving average is C$73.80 and its 200 day simple moving average is C$67.82. The firm has a market cap of C$98.07 billion, a P/E ratio of 13.85, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a 52 week low of C$56.83 and a 52 week high of C$79.38.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its earnings results on Tuesday, August 27th. The bank reported C$1.63 earnings per share for the quarter, hitting analysts’ consensus estimates of C$1.63. The company 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 return on equity of 9.49% and a net margin of 25.38%. 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 disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Investors of record on Wednesday, October 2nd were given a dividend of $1.06 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $4.24 annualized dividend and a dividend yield of 5.36%. 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.