The Bank of Nova Scotia (NYSE:BNS) Receives $72.00 Average PT from Analysts

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) has been given an average rating of “Moderate Buy” by the nine analysts that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $75.50.

BNS has been the subject of a number of recent research reports. Royal Bank of Canada lowered their target price on Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating for the company in a research note on Wednesday. UBS Group upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Monday, November 18th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. CIBC reiterated a “neutral” rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Finally, Cibc World Mkts lowered Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th.

Institutional Investors Weigh In On Bank of Nova Scotia

A number of hedge funds have recently bought and sold shares of the business. Magnus Financial Group LLC grew its stake in Bank of Nova Scotia by 4.1% during the 4th quarter. Magnus Financial Group LLC now owns 5,100 shares of the bank’s stock valued at $274,000 after purchasing an additional 200 shares in the last quarter. Sigma Planning Corp lifted its holdings in Bank of Nova Scotia by 1.9% during the 3rd quarter. Sigma Planning Corp now owns 11,089 shares of the bank’s stock worth $604,000 after buying an additional 210 shares during the last quarter. Private Advisor Group LLC lifted its holdings in Bank of Nova Scotia by 3.5% during the 4th quarter. Private Advisor Group LLC now owns 6,248 shares of the bank’s stock worth $336,000 after buying an additional 211 shares during the last quarter. Signaturefd LLC lifted its holdings in Bank of Nova Scotia by 1.2% during the 3rd quarter. Signaturefd LLC now owns 18,470 shares of the bank’s stock worth $1,006,000 after buying an additional 216 shares during the last quarter. Finally, Addison Advisors LLC lifted its holdings in Bank of Nova Scotia by 7.3% during the 3rd quarter. Addison Advisors LLC now owns 3,357 shares of the bank’s stock worth $183,000 after buying an additional 227 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

BNS stock opened at $49.68 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. Bank of Nova Scotia has a 1 year low of $43.67 and a 1 year high of $57.07. The firm has a market cap of $61.87 billion, a P/E ratio of 11.50, a price-to-earnings-growth ratio of 1.16 and a beta of 1.07. The stock has a 50-day simple moving average of $51.72 and a 200-day simple moving average of $52.35.

Bank of Nova Scotia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.7415 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a yield of 5.97%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 68.06%.

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.