The Bank of Nova Scotia (TSE:BNS) Given Average Rating of "Hold" by Brokerages

The Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS has been assigned an average recommendation of "Hold" from the thirteen research firms that are presently covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is C$78.55.

Several research analysts have recently commented on BNS shares. Cibc World Mkts lowered shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Royal Bank of Canada decreased their price target on shares of Bank of Nova Scotia from C$83.00 to C$81.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 26th. TD Securities set a C$81.00 price objective on Bank of Nova Scotia and gave the stock a "buy" rating in a research report on Tuesday, March 4th. CIBC decreased their target price on Bank of Nova Scotia from C$81.00 to C$75.00 in a report on Wednesday, March 5th. Finally, Jefferies Financial Group lowered their target price on Bank of Nova Scotia from C$81.00 to C$77.00 in a research note on Tuesday, February 18th.

Bank of Nova Scotia Stock Down 1.2 %

TSE:BNS traded down C$0.84 during trading hours on Wednesday, reaching C$68.36. 8,450,541 shares of the stock were exchanged, compared to its average volume of 4,800,020. Bank of Nova Scotia has a twelve month low of C$60.68 and a twelve month high of C$80.14. The business has a 50-day moving average of C$71.54 and a two-hundred day moving average of C$73.65. The company has a market capitalization of C$83.77 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 1.33 and a beta of 0.97.

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Bank of Nova Scotia Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Tuesday, January 7th were issued a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 6.20%. The ex-dividend date was Tuesday, January 7th. Bank of Nova Scotia's dividend payout ratio (DPR) is 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.