The Bank of Nova Scotia (TSE:BNS) Receives C$68.25 Average Price Target from Brokerages

The Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS has received an average recommendation of "Hold" from the thirteen ratings firms that are presently covering the company, MarketBeat reports. Eleven analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$68.25.

Several research firms have recently weighed in on BNS. Cibc World Mkts upgraded shares of Bank of Nova Scotia from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 20th. Cormark reduced their target price on shares of Bank of Nova Scotia from C$68.00 to C$65.00 and set a "market perform" rating for the company in a research note on Tuesday, August 20th. UBS Group set a C$67.00 price objective on shares of Bank of Nova Scotia and gave the company a "neutral" rating in a research note on Tuesday, July 2nd. CIBC raised shares of Bank of Nova Scotia from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from C$78.00 to C$82.00 in a research note on Friday, September 20th. Finally, BMO Capital Markets reduced their price objective on shares of Bank of Nova Scotia from C$74.00 to C$72.00 and set a "market perform" rating for the company in a research note on Wednesday, August 28th.

Bank of Nova Scotia Trading Down 1.0 %

Shares of BNS traded down C$0.70 during trading hours on Friday, reaching C$71.99. 3,981,734 shares of the stock traded hands, compared to its average volume of 4,310,139. The stock has a fifty day simple moving average of C$70.00 and a 200 day simple moving average of C$66.19. Bank of Nova Scotia has a 52 week low of C$55.20 and a 52 week high of C$74.29. The company has a market cap of C$89.27 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 1.33 and a beta of 0.97.

Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS last announced its quarterly earnings data on Tuesday, August 27th. The bank reported C$1.63 EPS for the quarter, hitting the consensus estimate of C$1.63. The business had revenue of C$8.36 billion for the quarter, compared to analyst estimates of C$8.50 billion. Bank of Nova Scotia had a net margin of 25.38% and a return on equity of 9.49%. Analysts predict that Bank of Nova Scotia will post 7.1286267 earnings per share for the current fiscal year.

Bank of Nova Scotia Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd will be given a dividend of $1.06 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $4.24 annualized dividend and a yield of 5.89%. Bank of Nova Scotia's payout ratio is currently 74.26%.

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.