Bank of Nova Scotia (TSE:BNS) Reaches New 1-Year High at $72.38

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) reached a new 52-week high on Thursday . The stock traded as high as C$72.38 and last traded at C$72.19, with a volume of 1169128 shares trading hands. The stock had previously closed at C$71.46.

Analyst Ratings Changes

BNS has been the subject of several research analyst reports. TD Securities raised their price objective on Bank of Nova Scotia from C$69.00 to C$71.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. UBS Group set a C$67.00 price objective on Bank of Nova Scotia and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Jefferies Financial Group raised their price objective on Bank of Nova Scotia from C$65.00 to C$69.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Cormark lowered their price objective on Bank of Nova Scotia from C$68.00 to C$65.00 and set a “market perform” rating for the company in a research note on Tuesday, August 20th. Finally, BMO Capital Markets lowered their price objective on Bank of Nova Scotia from C$74.00 to C$72.00 and set a “market perform” rating for the company in a research note on Wednesday, August 28th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$68.25.

Bank of Nova Scotia Stock Performance

The firm has a fifty day simple moving average of C$65.88 and a 200 day simple moving average of C$65.47. The company has a market capitalization of C$90.95 billion, a PE ratio of 12.85, a P/E/G ratio of 1.33 and a beta of 0.96.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings data on Tuesday, August 27th. The bank reported C$1.63 EPS for the quarter, hitting the consensus estimate of C$1.63. Bank of Nova Scotia had a return on equity of 9.49% and a net margin of 25.38%. The company had revenue of C$8.36 billion for the quarter, compared to the consensus estimate of C$8.50 billion. Research analysts expect that The Bank of Nova Scotia will post 7.0938104 EPS for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 29th. Stockholders of record on Wednesday, October 2nd will be issued a $1.06 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $4.24 dividend on an annualized basis and a dividend yield of 5.78%. Bank of Nova Scotia’s dividend payout ratio is presently 74.26%.

About Bank of Nova Scotia

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.