Bank of Nova Scotia (TSE:BNS) Sets New 1-Year High at $69.22

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as C$69.22 and last traded at C$69.21, with a volume of 1219095 shares changing hands. The stock had previously closed at C$68.46.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BNS shares. Royal Bank of Canada raised their target price on shares of Bank of Nova Scotia from C$62.00 to C$64.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 28th. National Bankshares increased their target price on shares of Bank of Nova Scotia from C$66.00 to C$67.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 28th. Canaccord Genuity Group increased their target price on shares of Bank of Nova Scotia from C$65.00 to C$67.50 and gave the stock a “hold” rating in a report on Wednesday, February 28th. BMO Capital Markets increased their target price on shares of Bank of Nova Scotia from C$66.00 to C$69.00 and gave the stock a “market perform” rating in a report on Wednesday, February 28th. Finally, TD Securities increased their target price on shares of Bank of Nova Scotia from C$64.00 to C$65.00 and gave the stock a “hold” rating in a report on Wednesday, February 28th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Bank of Nova Scotia currently has an average rating of “Hold” and a consensus price target of C$66.66.

Bank of Nova Scotia Stock Performance

The business has a fifty day moving average of C$64.85 and a 200-day moving average of C$62.35. The company has a market capitalization of C$85.49 billion, a P/E ratio of 11.47, a PEG ratio of 1.33 and a beta of 0.96.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its quarterly earnings data on Tuesday, February 27th. The bank reported C$1.69 earnings per share for the quarter, beating the consensus estimate of C$1.61 by C$0.08. The business had revenue of C$8.43 billion for the quarter, compared to analysts’ expectations of C$8.12 billion. Bank of Nova Scotia had a return on equity of 10.20% and a net margin of 26.75%. Sell-side analysts anticipate that The Bank of Nova Scotia will post 6.5794033 EPS for the current year.

Bank of Nova Scotia Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Tuesday, April 2nd will be paid a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date of this dividend is Monday, April 1st. Bank of Nova Scotia’s payout ratio is 69.39%.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.