Bank of Nova Scotia (NYSE:BNS) Posts Earnings Results, Beats Expectations By $0.65 EPS

Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) issued its quarterly earnings data on Wednesday. The bank reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.65, Briefing.com reports. The business had revenue of $7.94 billion for the quarter, compared to analyst estimates of $7.87 billion. Bank of Nova Scotia had a return on equity of 15.22% and a net margin of 25.54%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.50 EPS.

Bank of Nova Scotia stock opened at $65.36 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $78.63 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 1.59 and a beta of 0.94. Bank of Nova Scotia has a one year low of $59.05 and a one year high of $74.86. The business has a 50 day simple moving average of $67.47 and a 200 day simple moving average of $69.21.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Stockholders of record on Tuesday, July 5th will be issued a dividend of $0.801 per share. This represents a $3.20 annualized dividend and a dividend yield of 4.90%. The ex-dividend date is Friday, July 1st. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.79. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 50.39%.

Several institutional investors have recently bought and sold shares of BNS. Qtron Investments LLC bought a new position in shares of Bank of Nova Scotia during the 4th quarter worth approximately $228,000. Power Corp of Canada bought a new position in shares of Bank of Nova Scotia during the 1st quarter worth approximately $237,000. EHP Funds Inc. bought a new position in shares of Bank of Nova Scotia during the 1st quarter worth approximately $258,000. Golden State Equity Partners bought a new position in shares of Bank of Nova Scotia during the 1st quarter worth approximately $266,000. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Bank of Nova Scotia during the 1st quarter worth approximately $271,000. Institutional investors and hedge funds own 45.01% of the company’s stock.

A number of brokerages have recently commented on BNS. Zacks Investment Research raised Bank of Nova Scotia from a “sell” rating to a “hold” rating in a report on Thursday, February 24th. National Bank Financial increased their price objective on Bank of Nova Scotia from C$90.00 to C$91.00 in a report on Wednesday, March 2nd. Credit Suisse Group reissued a “neutral” rating on shares of Bank of Nova Scotia in a report on Friday, May 20th. Stifel Nicolaus lowered their price objective on Bank of Nova Scotia from C$107.00 to C$106.00 in a report on Friday, April 8th. Finally, BMO Capital Markets increased their price objective on Bank of Nova Scotia from C$93.00 to C$95.00 in a report on Wednesday, March 2nd. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Bank of Nova Scotia currently has a consensus rating of “Hold” and a consensus price target of $93.66.

About Bank of Nova Scotia (Get Rating)

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 in four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.

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