Bank of Nova Scotia (The) (NYSE:BNS) Receives Average Recommendation of “Hold” from Brokerages

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) has received an average recommendation of “Hold” from the six analysts that are presently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $97.00.

Several analysts recently weighed in on BNS shares. Raymond James Financial started coverage on Bank of Nova Scotia in a report on Tuesday, November 25th. They issued an “outperform” rating for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bank of Nova Scotia in a research report on Monday, December 29th. Finally, Royal Bank Of Canada lifted 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 report on Wednesday, December 3rd.

Institutional Investors Weigh In On Bank of Nova Scotia

Institutional investors have recently added to or reduced their stakes in the stock. Mondrian Investment Partners LTD bought a new position in Bank of Nova Scotia in the third quarter worth about $30,000. Cypress Capital Management LLC WY bought a new position in shares of Bank of Nova Scotia during the 2nd quarter worth approximately $33,000. Quarry LP purchased a new stake in Bank of Nova Scotia during the third quarter valued at approximately $35,000. Virtus Advisers LLC acquired a new stake in Bank of Nova Scotia in the third quarter valued at approximately $39,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Bank of Nova Scotia in the third quarter worth $45,000. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Up 0.8%

Shares of NYSE BNS opened at $75.28 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $92.95 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 0.98 and a beta of 1.11. The stock has a 50 day moving average price of $73.22 and a 200 day moving average price of $66.24. Bank of Nova Scotia has a 52-week low of $44.09 and a 52-week high of $76.56.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Tuesday, December 2nd. The bank reported $1.39 EPS for the quarter, topping the consensus estimate of $1.33 by $0.06. Bank of Nova Scotia had a return on equity of 12.10% and a net margin of 10.60%.The company had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $6.85 billion. During the same period last year, the business posted $1.57 EPS. Bank of Nova Scotia’s quarterly revenue was up 15.0% on a year-over-year basis. Sell-side analysts expect 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 was paid on Wednesday, January 28th. Stockholders of record on Tuesday, January 6th were given a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend was Tuesday, January 6th. Bank of Nova Scotia’s payout ratio is presently 79.60%.

Bank of Nova Scotia Company Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada’s largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.

Scotiabank’s core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.