Royal Bank of Canada Forecasts Strong Price Appreciation for Bank of Nova Scotia (TSE:BNS) Stock

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price target lifted by Royal Bank of Canada from C$74.00 to C$83.00 in a research note issued to investors on Wednesday morning,BayStreet.CA reports. They currently have a sector perform rating on the bank’s stock.

A number of other brokerages have also recently commented on BNS. BMO Capital Markets upped their price target on Bank of Nova Scotia from C$72.00 to C$84.00 in a research note on Monday, November 18th. Barclays raised shares of Bank of Nova Scotia from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 21st. 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. CIBC boosted their price target on shares of Bank of Nova Scotia from C$82.00 to C$84.00 in a report on Tuesday, November 26th. Finally, TD Securities dropped their price objective on Bank of Nova Scotia from C$82.00 to C$81.00 and set a “buy” rating on the stock in a research note on Wednesday, December 4th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$77.92.

Bank of Nova Scotia Stock Down 0.7 %

Shares of Bank of Nova Scotia stock opened at C$74.10 on Wednesday. The business has a fifty day simple moving average of C$76.94 and a 200 day simple moving average of C$70.56. The stock has a market cap of C$91.88 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a 12 month low of C$60.68 and a 12 month high of C$80.14.

Bank of Nova Scotia Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th will be issued a $1.06 dividend. The ex-dividend date is Tuesday, January 7th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 5.72%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 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.