The Bank of Nova Scotia (NYSE:BNS) Receives $72.00 Consensus PT from Brokerages

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) has been given an average recommendation of “Moderate Buy” by the nine analysts that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $72.00.

Several equities research analysts recently issued reports on the company. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Bank of America upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 19th. Cibc World Mkts raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, TD Securities upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Monday, November 4th.

Bank of Nova Scotia Price Performance

Shares of BNS opened at $55.42 on Friday. The business’s fifty day moving average is $54.13 and its 200 day moving average is $50.26. Bank of Nova Scotia has a 12-month low of $43.67 and a 12-month high of $57.07. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The stock has a market cap of $69.00 billion, a P/E ratio of 12.83, a P/E/G ratio of 1.26 and a beta of 1.07.

Bank of Nova Scotia Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th will be issued a $0.7535 dividend. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.01 annualized dividend and a dividend yield of 5.44%. Bank of Nova Scotia’s payout ratio is currently 72.45%.

Institutional Trading of Bank of Nova Scotia

A number of large investors have recently modified their holdings of BNS. Mather Group LLC. grew its position in Bank of Nova Scotia by 1,388.9% in the second quarter. Mather Group LLC. now owns 536 shares of the bank’s stock worth $25,000 after acquiring an additional 500 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Bank of Nova Scotia by 3,127.8% in the 2nd quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock worth $27,000 after purchasing an additional 563 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Bank of Nova Scotia by 1,588.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock valued at $47,000 after purchasing an additional 810 shares during the last quarter. City State Bank purchased a new position in shares of Bank of Nova Scotia during the 3rd quarter valued at about $57,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Bank of Nova Scotia in the 2nd quarter worth approximately $104,000. Institutional investors own 49.13% of the company’s stock.

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.