Bank of Nova Scotia (TSE:BNS) Rating Increased to Strong-Buy at Cibc World Mkts

Cibc World Mkts upgraded shares of Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) from a hold rating to a strong-buy rating in a research note published on Friday morning, Zacks.com reports.

Several other equities research analysts have also recently commented on the company. CIBC raised Bank of Nova Scotia from a neutral rating to an outperform rating and raised their target price for the stock from C$78.00 to C$82.00 in a research note on Friday. National Bankshares reduced their price objective on Bank of Nova Scotia from C$67.00 to C$66.00 and set a sector perform rating for the company in a research note on Wednesday, May 29th. Jefferies Financial Group upped their target price 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. Canaccord Genuity Group lifted their price target 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 report on Wednesday, May 29th. Finally, BMO Capital Markets lowered their price objective on shares of Bank of Nova Scotia from C$74.00 to C$72.00 and set a market perform rating on the stock in a report on Wednesday, August 28th. Eleven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Bank of Nova Scotia presently has a consensus rating of Hold and an average target price of C$68.25.

Bank of Nova Scotia Trading Down 0.7 %

Shares of TSE:BNS opened at C$72.86 on Friday. The firm has a 50 day moving average of C$66.05 and a 200-day moving average of C$65.49. Bank of Nova Scotia has a 12 month low of C$55.20 and a 12 month high of C$73.65. The stock has a market capitalization of C$90.35 billion, a PE ratio of 12.76, a PEG ratio of 1.33 and a beta of 0.96.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its earnings results 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 firm had revenue of C$8.36 billion during the quarter, compared to the consensus estimate of C$8.50 billion. On average, research analysts predict that Bank of Nova Scotia will post 7.0938104 EPS for the current fiscal year.

Bank of Nova Scotia Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd will be given a dividend of $1.06 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $4.24 annualized dividend and a dividend yield of 5.82%. Bank of Nova Scotia’s dividend 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.