Bank of America Issues Positive Forecast for Bank of Nova Scotia (TSE:BNS) Stock Price

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price objective upped by Bank of America from C$78.00 to C$88.00 in a research report released on Wednesday morning,BayStreet.CA reports.

Several other equities research analysts have also issued reports on BNS. Royal Bank Of Canada raised their price objective on Bank of Nova Scotia from C$80.00 to C$86.00 and gave the company a “sector perform” rating in a research note on Wednesday. Jefferies Financial Group increased their price target on Bank of Nova Scotia from C$75.00 to C$83.00 in a report on Wednesday, August 13th. TD Securities increased their price target on Bank of Nova Scotia from C$77.00 to C$79.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. Canaccord Genuity Group increased their price target on Bank of Nova Scotia from C$87.00 to C$90.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Desjardins increased their price target on Bank of Nova Scotia from C$79.00 to C$85.00 and gave the stock a “hold” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$85.62.

Bank of Nova Scotia Price Performance

TSE:BNS opened at C$85.13 on Wednesday. The firm has a market capitalization of C$104.32 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a 1 year low of C$62.57 and a 1 year high of C$86.39. The business has a 50 day simple moving average of C$76.74 and a 200-day simple moving average of C$72.31.

Bank of Nova Scotia Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 29th. Stockholders of record on Tuesday, July 29th were given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend was Wednesday, July 2nd. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $1.06. Bank of Nova Scotia’s payout ratio is 67.00%.

About Bank of Nova Scotia

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It offers a range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.