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

The Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS has received an average rating of "Moderate Buy" from the ten analysts that are covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $72.00.

Several analysts have commented on BNS shares. Bank of America raised shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Tuesday, November 19th. TD Securities raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Royal Bank of Canada upped their price objective on shares of Bank of Nova Scotia from $65.00 to $74.00 and gave the stock a "sector perform" rating in a report on Wednesday, December 4th. UBS Group raised shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a report on Monday, November 18th. Finally, Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its stake in Bank of Nova Scotia by 17.5% during the third quarter. The Manufacturers Life Insurance Company now owns 4,438,129 shares of the bank's stock worth $241,981,000 after acquiring an additional 660,097 shares in the last quarter. Intact Investment Management Inc. raised its holdings in Bank of Nova Scotia by 48.3% in the 3rd quarter. Intact Investment Management Inc. now owns 1,563,594 shares of the bank's stock valued at $85,201,000 after buying an additional 509,120 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Bank of Nova Scotia by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,744,062 shares of the bank's stock valued at $204,214,000 after buying an additional 150,247 shares during the last quarter. Citigroup Inc. raised its holdings in Bank of Nova Scotia by 12.3% during the 3rd quarter. Citigroup Inc. now owns 580,664 shares of the bank's stock worth $31,673,000 after purchasing an additional 63,528 shares during the last quarter. Finally, Pathway Financial Advisers LLC raised its holdings in Bank of Nova Scotia by 5,380.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 3,972,234 shares of the bank's stock worth $216,447,000 after purchasing an additional 3,899,760 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company's stock.

Bank of Nova Scotia Stock Down 1.3 %

Bank of Nova Scotia stock traded down $0.68 during trading hours on Friday, hitting $50.46. The company had a trading volume of 1,511,828 shares, compared to its average volume of 1,888,557. The firm has a market capitalization of $62.84 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 1.16 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 1.03. The firm's fifty day moving average is $52.13 and its 200-day moving average is $52.19. Bank of Nova Scotia has a fifty-two week low of $43.67 and a fifty-two week high of $57.07.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Tuesday, January 7th were given a dividend of $0.7535 per share. The ex-dividend date of this dividend was Tuesday, January 7th. This represents a $3.01 annualized dividend and a yield of 5.97%. Bank of Nova Scotia's dividend payout ratio is 68.29%.

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.