Bank of Nova Scotia (TSE:BNS) Reaches New 12-Month High on Analyst Upgrade

Shares of The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) reached a new 52-week high during mid-day trading on Tuesday after Jefferies Financial Group raised their price target on the stock from C$86.00 to C$96.00. The company traded as high as C$95.53 and last traded at C$95.41, with a volume of 1750278 shares trading hands. The stock had previously closed at C$93.96.

Several other research firms have also recently issued reports on BNS. Bank of America boosted their target price on Bank of Nova Scotia from C$78.00 to C$88.00 in a research note on Wednesday, August 27th. CIBC lifted their price target on shares of Bank of Nova Scotia from C$93.00 to C$100.00 in a report on Wednesday, November 19th. Desjardins boosted their price objective on shares of Bank of Nova Scotia from C$79.00 to C$85.00 and gave the company a “hold” rating in a research report on Wednesday, August 27th. Raymond James Financial set a C$108.00 target price on shares of Bank of Nova Scotia and gave the stock an “outperform” rating in a research report on Tuesday. Finally, National Bankshares set a C$81.00 target price on shares of Bank of Nova Scotia and gave the company a “sector perform” rating in a research note on Monday, September 22nd. Four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of Nova Scotia has a consensus rating of “Hold” and a consensus price target of C$90.67.

Bank of Nova Scotia Price Performance

The firm has a market cap of C$118.88 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 1.33 and a beta of 1.33. The firm’s 50 day moving average is C$91.36 and its 200 day moving average is C$82.17.

Bank of Nova Scotia Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 29th. Investors of record on Wednesday, October 29th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Tuesday, October 7th. Bank of Nova Scotia’s dividend payout ratio (DPR) is 81.84%.

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.