Bank of Nova Scotia (BNS) PT Raised to C$89.00
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price objective increased by Scotiabank from C$86.00 to C$89.00 in a research report sent to investors on Wednesday, May 31st. Scotiabank currently has an outperform rating on the bank’s stock.
Several other research firms also recently weighed in on BNS. Keefe, Bruyette & Woods increased their target price on Bank of Nova Scotia from C$77.00 to C$85.00 in a research report on Tuesday, February 21st. Royal Bank of Canada increased their target price on Bank of Nova Scotia from C$86.00 to C$87.00 and gave the stock an outperform rating in a research report on Wednesday, May 31st. Barclays PLC increased their target price on Bank of Nova Scotia from C$68.00 to C$73.00 in a research report on Monday, February 13th. CIBC increased their target price on Bank of Nova Scotia from C$83.00 to C$86.00 and gave the stock an outperform rating in a research report on Tuesday, March 7th. Finally, TD Securities downgraded Bank of Nova Scotia from an action list buy rating to a buy rating and set a C$88.00 target price on the stock. in a research report on Wednesday, March 1st. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of C$84.00.
Shares of Bank of Nova Scotia (TSE:BNS) opened at 77.92 on Wednesday. The firm has a market capitalization of $93.65 billion and a P/E ratio of 12.39. Bank of Nova Scotia has a 52 week low of $62.36 and a 52 week high of $82.30. The firm has a 50 day moving average price of $76.31 and a 200-day moving average price of $77.36.
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its earnings results on Tuesday, May 30th. The bank reported $1.63 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $6.58 billion for the quarter, compared to the consensus estimate of $6.61 billion. Equities research analysts predict that Bank of Nova Scotia will post $6.49 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, July 27th. Stockholders of record on Tuesday, July 4th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.90%.
In other Bank of Nova Scotia news, Director Brian J. Porter purchased 1,000 shares of Bank of Nova Scotia stock in a transaction that occurred on Thursday, June 8th. The stock was purchased at an average price of C$77.74 per share, with a total value of C$77,740.00. Also, insider Kyle Mcnamara sold 4,280 shares of the stock in a transaction dated Thursday, April 6th. The shares were sold at an average price of C$78.75, for a total value of C$337,050.00.
About Bank of Nova Scotia
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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