The Bank of Nova Scotia (NYSE:BNS) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of The Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS have earned a consensus recommendation of "Moderate Buy" from the nine research firms that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $81.00.

A number of equities research analysts recently issued reports on BNS shares. Barclays raised Bank of Nova Scotia from an "underweight" rating to an "equal weight" rating in a research note on Thursday, November 21st. Royal Bank of Canada decreased their price objective on Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating on the stock in a research note on Wednesday, February 26th. Cibc World Mkts downgraded shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Finally, CIBC restated a "neutral" rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th.

Bank of Nova Scotia Price Performance

BNS traded down $0.09 during midday trading on Tuesday, reaching $48.01. 2,008,306 shares of the company's stock were exchanged, compared to its average volume of 1,612,585. The business's 50-day moving average price is $50.21 and its 200 day moving average price is $52.41. The stock has a market capitalization of $59.80 billion, a PE ratio of 11.11, a P/E/G ratio of 1.16 and a beta of 1.11. Bank of Nova Scotia has a 1-year low of $43.68 and a 1-year high of $57.07. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03.

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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 dividend of $0.7415 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 annualized dividend and a yield of 6.18%. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 82.77%.

Institutional Trading of Bank of Nova Scotia

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Bank of Nova Scotia by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 51,363,146 shares of the bank's stock worth $2,758,150,000 after acquiring an additional 969,488 shares during the last quarter. Toronto Dominion Bank raised its stake in Bank of Nova Scotia by 1.7% during the fourth quarter. Toronto Dominion Bank now owns 25,425,639 shares of the bank's stock worth $1,363,619,000 after purchasing an additional 434,771 shares during the period. TD Asset Management Inc. boosted its holdings in shares of Bank of Nova Scotia by 1.7% in the 4th quarter. TD Asset Management Inc. now owns 18,966,078 shares of the bank's stock valued at $1,017,933,000 after purchasing an additional 308,837 shares during the last quarter. Norges Bank purchased a new stake in shares of Bank of Nova Scotia during the 4th quarter valued at $690,746,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings 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 worth $640,624,000 after buying an additional 2,346,995 shares during the last quarter. Hedge funds and other institutional investors own 49.13% of the company's stock.

About Bank of Nova Scotia

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.