The Bank of Nova Scotia Declares Quarterly Dividend of $1.06 (TSE:BNS)

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) declared a quarterly dividend on Tuesday, August 27th, RTT News reports. Investors of record on Wednesday, October 2nd will be paid a dividend of 1.06 per share by the bank on Tuesday, October 29th. This represents a $4.24 annualized dividend and a dividend yield of 6.43%. The ex-dividend date is Wednesday, October 2nd.

Bank of Nova Scotia Stock Down 1.9 %

Shares of TSE:BNS opened at C$65.94 on Thursday. The company has a market capitalization of C$81.77 billion, a P/E ratio of 11.55, a P/E/G ratio of 1.33 and a beta of 0.96. Bank of Nova Scotia has a 52-week low of C$54.29 and a 52-week high of C$70.40. The stock’s fifty day simple moving average is C$63.49 and its 200-day simple moving average is C$64.86.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its quarterly earnings results on Tuesday, May 28th. The bank reported C$1.58 EPS for the quarter, topping analysts’ consensus estimates of C$1.55 by C$0.03. The business had revenue of C$8.35 billion during the quarter, compared to the consensus estimate of C$8.32 billion. Bank of Nova Scotia had a net margin of 25.38% and a return on equity of 9.49%. On average, sell-side analysts anticipate that Bank of Nova Scotia will post 6.9556962 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BNS. BMO Capital Markets cut their price target on Bank of Nova Scotia from C$74.00 to C$72.00 and set a “market perform” rating for the company in a report on Wednesday. National Bankshares cut their price target on shares of Bank of Nova Scotia from C$67.00 to C$66.00 and set a “sector perform” rating on the stock in a report on Wednesday, May 29th. CIBC increased their target price on Bank of Nova Scotia from C$64.00 to C$68.00 and gave the company a “neutral” rating in a research note on Wednesday, May 29th. Canaccord Genuity Group lifted their price objective on shares of Bank of Nova Scotia from C$70.00 to C$71.00 and gave the company a “hold” rating in a research note on Wednesday, May 29th. Finally, TD Securities upped their target price on shares of Bank of Nova Scotia from C$69.00 to C$71.00 and gave the company a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$67.07.

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.