Analysts Set The Bank of Nova Scotia (NYSE:BNS) Target Price at $69.00

Shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) have been assigned a consensus rating of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $69.00.

A number of analysts recently weighed in on the stock. Cibc World Mkts raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 20th. TD Securities upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Monday, November 4th.

Bank of Nova Scotia Stock Up 0.2 %

Shares of BNS opened at $53.93 on Wednesday. The firm has a market capitalization of $66.74 billion, a P/E ratio of 12.96, a P/E/G ratio of 1.59 and a beta of 1.05. Bank of Nova Scotia has a 12-month low of $41.80 and a 12-month high of $55.12. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.61. The firm has a fifty day moving average price of $52.90 and a 200-day moving average price of $49.02.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Tuesday, August 27th. The bank reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.01. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. The company had revenue of $8.36 billion during the quarter, compared to analyst estimates of $8.53 billion. During the same period in the prior year, the firm earned $1.30 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts expect that Bank of Nova Scotia will post 4.79 earnings per share for the current year.

Bank of Nova Scotia Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Wednesday, October 2nd were issued a dividend of $0.768 per share. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $3.07 annualized dividend and a dividend yield of 5.70%. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 74.88%.

Hedge Funds Weigh In On Bank of Nova Scotia

Several hedge funds have recently modified their holdings of the stock. Executive Wealth Management LLC purchased a new stake in Bank of Nova Scotia in the 3rd quarter worth approximately $619,000. Abel Hall LLC acquired a new stake in shares of Bank of Nova Scotia in the 3rd quarter worth $218,000. Barclays PLC increased its stake in shares of Bank of Nova Scotia by 27.5% in the 3rd quarter. Barclays PLC now owns 214,957 shares of the bank’s stock worth $11,712,000 after acquiring an additional 46,421 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Bank of Nova Scotia in the 3rd quarter worth $10,363,000. Finally, Y Intercept Hong Kong Ltd increased its position in shares of Bank of Nova Scotia by 46.0% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 24,285 shares of the bank’s stock worth $1,323,000 after purchasing an additional 7,657 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

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.