Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) declared that its Board of Directors has initiated a stock buyback plan, which allows the company to repurchase outstanding shares on Monday, February 12th, EventVestor reports. This repurchase authorization allows the bank to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Tuesday, February 6th. Canaccord Genuity reiterated a “buy” rating and issued a $92.00 price target on shares of Bank of Nova Scotia in a research note on Tuesday, November 28th. Scotiabank reiterated a “buy” rating and issued a $95.00 price target on shares of Bank of Nova Scotia in a research note on Wednesday, November 22nd. Finally, Macquarie assumed coverage on Bank of Nova Scotia in a research note on Tuesday, October 24th. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $86.00.

Shares of Bank of Nova Scotia (NYSE BNS) opened at $62.18 on Thursday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.10. Bank of Nova Scotia has a twelve month low of $53.86 and a twelve month high of $66.78. The firm has a market capitalization of $74,620.00, a price-to-earnings ratio of 12.07, a P/E/G ratio of 1.39 and a beta of 1.26.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Tuesday, November 28th. The bank reported $1.32 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.32. Bank of Nova Scotia had a return on equity of 14.62% and a net margin of 22.20%. The company had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.64 billion. research analysts forecast that Bank of Nova Scotia will post 5.48 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 29th. Investors of record on Tuesday, January 2nd were issued a dividend of $0.617 per share. This represents a $2.47 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend was Friday, December 29th. Bank of Nova Scotia’s dividend payout ratio (DPR) is 49.71%.

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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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