The Bank of Nova Scotia (NYSE:BNS) Given Average Rating of “Moderate Buy” by Analysts

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) has earned a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $81.00.

A number of research firms recently issued reports on BNS. CIBC restated a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Cibc World Mkts cut shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada reduced their price objective on shares of 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, February 26th.

Institutional Trading of Bank of Nova Scotia

Several hedge funds have recently added to or reduced their stakes in the business. Murphy & Mullick Capital Management Corp bought a new stake in Bank of Nova Scotia during the 4th quarter valued at $25,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Bank of Nova Scotia in the fourth quarter worth $31,000. Allworth Financial LP lifted its position in Bank of Nova Scotia by 121.1% during the fourth quarter. Allworth Financial LP now owns 639 shares of the bank’s stock valued at $33,000 after buying an additional 350 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Bank of Nova Scotia by 1,588.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock valued at $47,000 after buying an additional 810 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in shares of Bank of Nova Scotia in the 4th quarter worth about $73,000. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Stock Up 0.7 %

Bank of Nova Scotia stock opened at $48.34 on Tuesday. Bank of Nova Scotia has a fifty-two week low of $43.68 and a fifty-two week high of $57.07. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. The firm’s 50-day simple moving average is $50.10 and its 200 day simple moving average is $52.41. The stock has a market cap of $60.21 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be given a $0.7415 dividend. This represents a $2.97 dividend on an annualized basis and a yield of 6.14%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia’s payout ratio is presently 82.77%.

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.