The Bank of Nova Scotia (TSE:BNS) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) have been assigned an average rating of “Moderate Buy” from the fourteen ratings firms that are covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$77.92.

Several research analysts have issued reports on the company. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating and raised their target price for the stock from C$71.00 to C$84.00 in a research report on Tuesday, November 19th. TD Securities dropped their price objective on shares of Bank of Nova Scotia from C$82.00 to C$81.00 and set a “buy” rating on the stock in a report on Wednesday, December 4th. UBS Group raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Bank of America upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating and lifted their price target for the stock from C$73.00 to C$90.00 in a research note on Tuesday, November 19th. Finally, BMO Capital Markets upped their price objective on Bank of Nova Scotia from C$72.00 to C$84.00 in a research note on Monday, November 18th.

Bank of Nova Scotia Price Performance

BNS stock opened at C$74.62 on Friday. Bank of Nova Scotia has a 1 year low of C$60.68 and a 1 year high of C$80.14. The company has a market cap of C$92.53 billion, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. The stock’s fifty day moving average price is C$76.91 and its 200-day moving average price is C$70.49.

Bank of Nova Scotia Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th will be paid a $1.06 dividend. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $4.24 annualized dividend and a yield of 5.68%. Bank of Nova Scotia’s payout ratio is 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.