Bank of Nova Scotia (BNS) Receives Average Rating of “Buy” from Brokerages
Shares of Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) have been assigned an average rating of “Buy” from the twelve research firms that are presently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have issued a report on the stock in the last year is C$84.82.
A number of equities analysts have weighed in on the stock. Barclays PLC upgraded shares of Bank of Nova Scotia from an “equal weight” rating to an “overweight” rating in a report on Tuesday, May 23rd. Royal Bank Of Canada lifted their price target on shares of Bank of Nova Scotia from C$86.00 to C$87.00 and gave the company an “outperform” rating in a report on Wednesday, May 31st. Finally, Scotiabank lifted their target price on shares of Bank of Nova Scotia from C$86.00 to C$89.00 and gave the company an “outperform” rating in a report on Wednesday, May 31st.
In other Bank of Nova Scotia news, Director Brian J. Porter acquired 1,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The stock was acquired at an average price of C$77.74 per share, with a total value of C$77,740.00.
Bank of Nova Scotia (TSE:BNS) traded down 0.88% during trading on Tuesday, hitting $77.63. The stock had a trading volume of 475,848 shares. The company has a market cap of $93.30 billion and a price-to-earnings ratio of 12.34. The firm’s 50-day moving average price is $78.19 and its 200-day moving average price is $77.85. Bank of Nova Scotia has a 52-week low of $65.09 and a 52-week high of $82.30.
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its earnings results on Tuesday, May 30th. The bank reported $1.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.07. The firm had revenue of $6.58 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Bank of Nova Scotia had a net margin of 31.32% and a return on equity of 14.58%. Analysts predict that Bank of Nova Scotia will post $6.46 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 27th. Investors of record on Tuesday, July 4th will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Thursday, June 29th.
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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