Bank of Nova Scotia (TSE:BNS) Price Target Raised to C$82.00

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price boosted by TD Securities from C$80.00 to C$82.00 in a research note issued to investors on Friday morning,BayStreet.CA reports.

A number of other brokerages have also recently weighed in on BNS. Cibc World Mkts upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 20th. Cormark reduced their price target on shares of Bank of Nova Scotia from C$68.00 to C$65.00 and set a “market perform” rating for the company in a research report on Tuesday, August 20th. BMO Capital Markets decreased their price target on shares of Bank of Nova Scotia from C$74.00 to C$72.00 and set a “market perform” rating for the company in a research note on Wednesday, August 28th. CIBC upgraded shares of Bank of Nova Scotia from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from C$78.00 to C$82.00 in a research note on Friday, September 20th. Finally, Royal Bank of Canada upped their target price on shares of Bank of Nova Scotia from C$62.00 to C$65.00 and gave the company a “sector perform” rating in a report on Wednesday, August 28th. Ten research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$70.17.

Bank of Nova Scotia Price Performance

Shares of BNS opened at C$77.43 on Friday. Bank of Nova Scotia has a 1-year low of C$56.83 and a 1-year high of C$77.70. The stock has a market cap of C$96.01 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. The firm has a fifty day moving average price of C$72.71 and a 200 day moving average price of C$67.19.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last posted its earnings results on Tuesday, August 27th. The bank reported C$1.63 EPS for the quarter, hitting analysts’ consensus estimates of C$1.63. The business had revenue of C$8.36 billion for the quarter, compared to analysts’ expectations of C$8.50 billion. Bank of Nova Scotia had a return on equity of 9.49% and a net margin of 25.38%. As a group, equities analysts expect that Bank of Nova Scotia will post 7.1286267 EPS for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Investors of record on Wednesday, October 2nd were given a $1.06 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $4.24 dividend on an annualized basis and a yield of 5.48%. Bank of Nova Scotia’s payout ratio is currently 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.