Bank of Nova Scotia (BNS) Price Target Raised to C$78.00 at Canaccord Genuity
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price raised by research analysts at Canaccord Genuity from C$75.00 to C$78.00 in a research note issued on Tuesday. Canaccord Genuity’s price objective suggests a potential upside of 7.41% from the stock’s current price.
Several other equities analysts have also issued reports on the company. Desjardins lifted their price target on Bank of Nova Scotia from C$70.00 to C$71.00 and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Keefe, Bruyette & Woods raised their price objective on Bank of Nova Scotia from C$60.00 to C$64.00 in a report on Thursday, August 18th. CSFB reissued a “neutral” rating and set a C$78.00 price objective on shares of Bank of Nova Scotia in a report on Tuesday, November 15th. Royal Bank Of Canada raised their price objective on Bank of Nova Scotia from C$72.00 to C$77.00 and gave the company an “outperform” rating in a report on Wednesday, August 31st. Finally, Barclays PLC raised their price objective on Bank of Nova Scotia from C$63.00 to C$66.00 in a report on Monday. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of C$74.29.
Shares of Bank of Nova Scotia (TSE:BNS) traded down 0.19% during midday trading on Tuesday, hitting $72.48. The company’s stock had a trading volume of 895,584 shares. The company has a 50-day moving average price of $71.01 and a 200 day moving average price of $67.47. Bank of Nova Scotia has a 1-year low of $51.17 and a 1-year high of $73.01. The company has a market cap of $87.32 billion and a P/E ratio of 12.83.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 27th. Stockholders of record on Tuesday, October 4th were given a $0.74 dividend. The ex-dividend date of this dividend was Friday, September 30th. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a dividend yield of 4.08%.
In other news, Director Brian J. Porter sold 25,176 shares of Bank of Nova Scotia stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of C$70.17, for a total value of C$1,766,599.92.
About Bank of Nova Scotia
The Bank of Nova Scotia (Scotiabank or the Bank) is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and parts of Asia. The Company’s segments include Canadian Banking, International Banking, Global Banking and Markets (GBM), and Other.
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