The Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS has received a consensus rating of "Moderate Buy" from the nine brokerages that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $72.00.
A number of brokerages have issued reports on BNS. Cibc World Mkts raised shares of Bank of Nova Scotia from a "hold" rating to a "strong-buy" rating in a report on Friday, September 20th. TD Securities raised Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Monday, November 4th. UBS Group upgraded Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Monday, November 18th. Bank of America upgraded shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Tuesday, November 19th. Finally, Barclays raised shares of Bank of Nova Scotia from an "underweight" rating to an "equal weight" rating in a report on Thursday, November 21st.
View Our Latest Research Report on Bank of Nova Scotia
Bank of Nova Scotia Stock Performance
Shares of BNS traded down $0.01 during mid-day trading on Friday, hitting $55.77. The stock had a trading volume of 1,283,559 shares, compared to its average volume of 1,105,995. Bank of Nova Scotia has a 52 week low of $43.67 and a 52 week high of $57.07. The business has a fifty day moving average price of $53.93 and a 200-day moving average price of $50.00. The firm has a market cap of $69.40 billion, a P/E ratio of 12.91, a PEG ratio of 1.43 and a beta of 1.07. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.02.
Bank of Nova Scotia Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th will be given a $0.7535 dividend. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.40%. Bank of Nova Scotia's dividend payout ratio is currently 72.45%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of BNS. Toronto Dominion Bank increased its position in Bank of Nova Scotia by 9.6% during the third quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank's stock valued at $1,361,752,000 after acquiring an additional 2,195,604 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Bank of Nova Scotia by 4.7% in the second quarter. Mackenzie Financial Corp now owns 15,091,880 shares of the bank's stock worth $690,438,000 after buying an additional 683,946 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Bank of Nova Scotia by 24.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,757,961 shares of the bank's stock valued at $640,624,000 after buying an additional 2,346,995 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Bank of Nova Scotia by 2.4% in the 3rd quarter. CIBC Asset Management Inc now owns 10,074,518 shares of the bank's stock worth $550,729,000 after acquiring an additional 240,803 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in Bank of Nova Scotia by 0.6% during the second quarter. Legal & General Group Plc now owns 9,281,724 shares of the bank's stock valued at $424,497,000 after purchasing an additional 57,796 shares in the last quarter. 49.13% of the stock is owned by institutional investors.
About Bank of Nova Scotia
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Get Free ReportThe 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.
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