The Bank of Nova Scotia (TSE:BNS) Receives C$78.55 Consensus Target Price from Brokerages

Shares of The Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS have received an average rating of "Hold" from the thirteen research firms that are covering the firm, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is C$76.73.

Several research analysts have recently weighed in on BNS shares. Jefferies Financial Group lowered their price objective on Bank of Nova Scotia from C$81.00 to C$77.00 in a research report on Tuesday, February 18th. Royal Bank of Canada dropped their price target on Bank of Nova Scotia from C$83.00 to C$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 report on Tuesday, February 18th. TD Securities set a C$81.00 price objective on shares of Bank of Nova Scotia and gave the company a "buy" rating in a research note on Tuesday, March 4th. Finally, Bank of America lowered shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating and cut their target price for the stock from C$82.00 to C$70.00 in a research note on Monday.

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Bank of Nova Scotia Price Performance

Shares of BNS traded down C$1.14 during trading hours on Wednesday, hitting C$67.09. 4,501,212 shares of the stock were exchanged, compared to its average volume of 4,907,067. The firm has a market capitalization of C$82.21 billion, a P/E ratio of 10.60, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a fifty-two week low of C$60.68 and a fifty-two week high of C$80.14. The business has a 50-day moving average of C$71.28 and a 200-day moving average of C$73.64.

Bank of Nova Scotia Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Monday, April 28th will be given a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia's payout ratio is currently 67.00%.

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.