The Bank of Nova Scotia (NYSE:BNS) Receives Average Rating of “Moderate Buy” from Brokerages

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) has been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $72.00.

A number of equities analysts have recently issued reports on the company. UBS Group upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Monday, November 18th. Bank of America upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. Barclays upgraded Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 21st. CIBC restated a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday. Finally, Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th.

Institutional Investors Weigh In On Bank of Nova Scotia

Institutional investors and hedge funds have recently bought and sold shares of the business. Murphy & Mullick Capital Management Corp purchased a new stake in Bank of Nova Scotia in the 4th quarter worth approximately $25,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Bank of Nova Scotia in the 4th quarter worth approximately $31,000. Allworth Financial LP lifted its holdings in Bank of Nova Scotia by 121.1% in the 4th quarter. Allworth Financial LP now owns 639 shares of the bank’s stock worth $33,000 after buying an additional 350 shares during the period. BNP Paribas Financial Markets lifted its holdings in Bank of Nova Scotia by 1,588.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock worth $47,000 after buying an additional 810 shares during the period. Finally, Fortitude Family Office LLC purchased a new stake in Bank of Nova Scotia in the 4th quarter worth approximately $73,000. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

BNS opened at $51.10 on Friday. The stock has a 50-day moving average price of $52.13 and a 200-day moving average price of $52.19. Bank of Nova Scotia has a 12-month low of $43.67 and a 12-month high of $57.07. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $63.64 billion, a P/E ratio of 11.83, a PEG ratio of 1.16 and a beta of 1.07.

Bank of Nova Scotia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th were issued a $0.7535 dividend. This represents a $3.01 annualized dividend and a yield of 5.90%. The ex-dividend date of this dividend was Tuesday, January 7th. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 68.29%.

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.