Bank of Nova Scotia (The) (NYSE:BNS) Stock Has Average Target Price of $105.50 According to Analysts

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) has received an average rating of “Moderate Buy” from the ten brokerages that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $105.50.

BNS has been the topic of several analyst reports. TD raised Bank of Nova Scotia to a “buy” rating in a research report on Wednesday, August 26th. TD Securities upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, August 25th. Weiss Ratings upgraded Bank of Nova Scotia from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, October 8th. Keefe, Bruyette & Woods initiated coverage on shares of Bank of Nova Scotia in a research note on Friday, August 21st. They set an “outperform” rating for the company. Finally, National Bank Financial upgraded shares of Bank of Nova Scotia from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, August 26th.

Institutional Trading of Bank of Nova Scotia

A number of large investors have recently modified their holdings of the company. Canada Pension Plan Investment Board bought a new position in Bank of Nova Scotia in the second quarter worth approximately $1,016,738,000. Legal & General Group Plc purchased a new stake in Bank of Nova Scotia during the second quarter worth $709,837,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Bank of Nova Scotia during the 2nd quarter valued at $567,278,000. The Manufacturers Life Insurance Company bought a new stake in Bank of Nova Scotia during the 2nd quarter valued at $416,397,000. Finally, Wellington Management Group LLP purchased a new position in shares of Bank of Nova Scotia in the 2nd quarter valued at $354,379,000. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Up 1.6%

BNS opened at $90.25 on Wednesday. The firm has a market cap of $109.82 billion, a P/E ratio of 16.33, a P/E/G ratio of 1.00 and a beta of 1.14. Bank of Nova Scotia has a 12 month low of $62.98 and a 12 month high of $95.74. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.98. The stock has a 50-day moving average of $91.28 and a 200 day moving average of $84.40.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Tuesday, August 25th. The bank reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.11. The company had revenue of $7.52 billion for the quarter, compared to analysts’ expectations of $7.11 billion. Bank of Nova Scotia had a return on equity of 16.12% and a net margin of 13.91%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.84 earnings per share. As a group, research analysts forecast that Bank of Nova Scotia will post 6.19 EPS for the current year.

Bank of Nova Scotia Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Tuesday, October 6th will be given a dividend of C$1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Tuesday, October 6th. Bank of Nova Scotia’s dividend payout ratio (DPR) is 57.87%.

Bank of Nova Scotia Company Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian financial services company headquartered in Toronto, Ontario. Founded in 1832, it is one of Canada’s largest banks and provides a broad range of banking and financial services to individuals, businesses, institutions and governments.

Scotiabank’s principal activities include Canadian personal and commercial banking, wealth management, and global banking and markets. Its products and services include deposit accounts, residential mortgages, consumer and business loans, credit cards, investment and advisory services, foreign exchange, capital markets and corporate finance.

The bank serves customers across Canada and maintains international operations, particularly in Mexico, Peru, Chile and selected markets in the Caribbean and Central America.