Bank of Nova Scotia (TSE:BNS) Price Target Raised to C$90.00 at Canaccord Genuity Group

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price raised by Canaccord Genuity Group from C$87.00 to C$90.00 in a research report released on Wednesday,BayStreet.CA reports. They currently have a buy rating on the bank’s stock.

A number of other equities analysts have also commented on BNS. UBS Group cut their price objective on shares of Bank of Nova Scotia from C$85.00 to C$78.00 in a report on Thursday, May 22nd. CIBC upped their target price on shares of Bank of Nova Scotia from C$77.00 to C$90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Barclays upped their target price on shares of Bank of Nova Scotia from C$78.00 to C$81.00 and gave the company an “equal weight” rating in a research note on Thursday, August 14th. Jefferies Financial Group upped their target price on shares of Bank of Nova Scotia from C$75.00 to C$83.00 in a research note on Wednesday, August 13th. Finally, National Bankshares upped their target price on shares of Bank of Nova Scotia from C$72.00 to C$73.00 and gave the company a “sector perform” rating in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of C$85.62.

Bank of Nova Scotia Price Performance

Shares of BNS stock opened at C$85.13 on Wednesday. Bank of Nova Scotia has a 12 month low of C$62.57 and a 12 month high of C$86.39. The firm has a market capitalization of C$104.32 billion, a P/E ratio of 13.45, a P/E/G ratio of 1.33 and a beta of 0.97. The company’s fifty day moving average price is C$76.74 and its two-hundred day moving average price is C$72.31.

Bank of Nova Scotia Increases Dividend

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

Bank of Nova Scotia Company Profile

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.