The Bank of Nova Scotia (TSE:BNS) Receives C$66.68 Consensus Target Price from Brokerages

Shares of The Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS have earned an average rating of "Reduce" from the thirteen research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and twelve have given a hold rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is C$66.68.

BNS has been the subject of several recent research reports. Desjardins boosted their target price on shares of Bank of Nova Scotia from C$64.00 to C$68.00 and gave the stock a "hold" rating in a research report on Wednesday, February 28th. Royal Bank of Canada decreased their price objective on shares of Bank of Nova Scotia from C$64.00 to C$62.00 and set a "sector perform" rating for the company in a research note on Wednesday, May 29th. National Bankshares decreased their price objective on shares of Bank of Nova Scotia from C$67.00 to C$66.00 and set a "sector perform" rating for the company in a research note on Wednesday, May 29th. Canaccord Genuity Group increased their price objective on shares of Bank of Nova Scotia from C$70.00 to C$71.00 and gave the company a "hold" rating in a research note on Wednesday, May 29th. Finally, Jefferies Financial Group decreased their price target on shares of Bank of Nova Scotia from C$69.00 to C$64.00 and set a "hold" rating for the company in a research note on Thursday, June 6th.

Bank of Nova Scotia Price Performance

Shares of TSE:BNS traded up C$1.01 during midday trading on Monday, hitting C$62.84. 4,731,175 shares of the company's stock were exchanged, compared to its average volume of 3,930,076. The stock has a 50 day moving average price of C$64.42 and a 200-day moving average price of C$64.59. The company has a market cap of C$77.29 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 1.33 and a beta of 0.98. Bank of Nova Scotia has a 12 month low of C$55.20 and a 12 month high of C$70.40.

Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS last posted its earnings results on Tuesday, May 28th. The bank reported C$1.58 EPS for the quarter, topping the consensus estimate of C$1.55 by C$0.03. The company had revenue of C$8.35 billion during the quarter, compared to the consensus estimate of C$8.32 billion. Bank of Nova Scotia had a net margin of 26.41% and a return on equity of 9.89%. On average, analysts anticipate that Bank of Nova Scotia will post 6.4780876 EPS for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Wednesday, July 3rd will be issued a $1.06 dividend. This represents a $4.24 annualized dividend and a yield of 6.75%. The ex-dividend date is Wednesday, July 3rd. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 69.97%.

Bank of Nova Scotia Company Profile

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.