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

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price increased by CIBC from C$100.00 to C$103.00 in a research note released on Thursday morning,BayStreet.CA reports. They currently have a neutral rating on the bank’s stock.

A number of other brokerages have also recently issued reports on BNS. Bank of America lifted their price objective on Bank of Nova Scotia from C$78.00 to C$88.00 in a 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 company an “outperform” rating in a research note on Tuesday, November 25th. Barclays increased their price target on Bank of Nova Scotia from C$95.00 to C$97.00 in a research report on Wednesday, December 3rd. National Bankshares set a C$81.00 price objective on Bank of Nova Scotia and gave the company a “sector perform” rating in a research report on Monday, September 22nd. Finally, BMO Capital Markets boosted their price objective on Bank of Nova Scotia from C$89.00 to C$93.00 in a research note on Wednesday, December 3rd. Four analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Bank of Nova Scotia has a consensus rating of “Hold” and an average target price of C$92.00.

Bank of Nova Scotia Trading Up 0.2%

BNS opened at C$100.40 on Thursday. The stock’s 50 day simple moving average is C$93.47 and its 200-day simple moving average is C$84.26. The stock has a market cap of C$125.06 billion, a PE ratio of 17.71, a P/E/G ratio of 1.33 and a beta of 1.35. Bank of Nova Scotia has a 1 year low of C$62.57 and a 1 year high of C$100.75.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its earnings results on Tuesday, December 2nd. The bank reported C$1.93 EPS for the quarter. The firm had revenue of C$9.77 billion during the quarter. Bank of Nova Scotia had a return on equity of 9.64% and a net margin of 17.68%. Equities analysts forecast that Bank of Nova Scotia will post 7.1286267 earnings per share for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 29th. Stockholders of record on Wednesday, October 29th were given a dividend of $1.10 per share. The ex-dividend date was Tuesday, October 7th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.4%. Bank of Nova Scotia’s payout ratio is presently 76.19%.

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.