Bank of Nova Scotia (BNS) Receives Consensus Recommendation of “Buy” from Analysts
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) has earned an average rating of “Buy” from the twelve ratings firms that are currently covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is C$84.82.
A number of analysts have recently issued reports on BNS shares. Royal Bank of Canada lifted their price target on Bank of Nova Scotia from C$86.00 to C$87.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 31st. Barclays PLC lifted their price target on Bank of Nova Scotia from C$73.00 to C$78.00 in a research note on Wednesday, March 1st. Desjardins lifted their price target on Bank of Nova Scotia from C$83.00 to C$86.00 and gave the stock a “buy” rating in a research note on Wednesday, March 1st. TD Securities lowered Bank of Nova Scotia from an “action list buy” rating to a “buy” rating and set a C$88.00 price target on the stock. in a research note on Wednesday, March 1st. Finally, Keefe, Bruyette & Woods lifted their price target on Bank of Nova Scotia from C$77.00 to C$85.00 in a research note on Tuesday, February 21st.
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In other Bank of Nova Scotia news, insider Andrew Branion sold 10,252 shares of the business’s stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of C$78.66, for a total transaction of C$806,422.32. Also, insider Kyle Mcnamara sold 4,280 shares of the business’s stock in a transaction on Thursday, April 6th. The stock was sold at an average price of C$78.75, for a total value of C$337,050.00.
Shares of Bank of Nova Scotia (BNS) traded up 0.44% during mid-day trading on Monday, hitting $77.92. The stock had a trading volume of 9,663,424 shares. The firm has a 50 day moving average of $76.31 and a 200-day moving average of $77.36. The stock has a market cap of $93.65 billion and a P/E ratio of 12.39. Bank of Nova Scotia has a one year low of $62.36 and a one year high of $82.30.
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its quarterly earnings data on Tuesday, May 30th. The bank reported $1.63 EPS for the quarter, beating the consensus estimate of $1.56 by $0.07. Bank of Nova Scotia had a return on equity of 14.58% and a net margin of 31.32%. The company had revenue of $6.58 billion for the quarter, compared to analyst estimates of $6.61 billion. Equities research analysts expect that Bank of Nova Scotia will post $6.49 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 27th. Shareholders of record on Tuesday, July 4th will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.90%.
Bank of Nova Scotia Company Profile
The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank 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.
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