Bank of Nova Scotia (The) (NYSE:BNS) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) have received an average recommendation of “Hold” from the six ratings firms that are presently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $97.00.

A number of research analysts have weighed in on the company. Wall Street Zen raised Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bank of Nova Scotia in a research note on Monday. Raymond James Financial began coverage on Bank of Nova Scotia in a research note on Tuesday, November 25th. They issued an “outperform” rating on the stock. Finally, Royal Bank Of Canada upped their price objective on shares of Bank of Nova Scotia from $86.00 to $97.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 3rd.

Bank of Nova Scotia Price Performance

Bank of Nova Scotia stock opened at $71.43 on Thursday. The firm’s 50-day moving average is $67.41 and its two-hundred day moving average is $61.44. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $88.28 billion, a P/E ratio of 17.77, a P/E/G ratio of 0.95 and a beta of 1.13. Bank of Nova Scotia has a 12-month low of $44.09 and a 12-month high of $73.38.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Tuesday, December 2nd. The bank reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.06. Bank of Nova Scotia had a net margin of 10.60% and a return on equity of 12.10%. The business had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $6.85 billion. During the same quarter in the prior year, the firm posted $1.57 earnings per share. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. Equities analysts predict that Bank of Nova Scotia will post 4.91 earnings per share for the current year.

Bank of Nova Scotia Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 28th. Investors of record on Tuesday, January 6th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, January 6th. This represents a $4.40 annualized dividend and a yield of 6.2%. Bank of Nova Scotia’s dividend payout ratio is 78.61%.

Hedge Funds Weigh In On Bank of Nova Scotia

A number of hedge funds have recently made changes to their positions in the stock. Allworth Financial LP increased its holdings in shares of Bank of Nova Scotia by 122.0% during the 3rd quarter. Allworth Financial LP now owns 715 shares of the bank’s stock worth $46,000 after buying an additional 393 shares during the last quarter. Swiss Life Asset Management Ltd grew its position in Bank of Nova Scotia by 18.8% during the third quarter. Swiss Life Asset Management Ltd now owns 181,727 shares of the bank’s stock valued at $11,767,000 after acquiring an additional 28,745 shares during the period. First Affirmative Financial Network increased its stake in Bank of Nova Scotia by 7.9% during the third quarter. First Affirmative Financial Network now owns 7,927 shares of the bank’s stock worth $512,000 after acquiring an additional 578 shares during the last quarter. Captrust Financial Advisors increased its stake in Bank of Nova Scotia by 14.3% during the third quarter. Captrust Financial Advisors now owns 39,998 shares of the bank’s stock worth $2,586,000 after acquiring an additional 5,011 shares during the last quarter. Finally, Danske Bank A S acquired a new stake in Bank of Nova Scotia during the third quarter worth about $377,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Company Profile

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 through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.