Analysts Set The Bank of Nova Scotia (NYSE:BNS) Price Target at $69.00

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) has been given a consensus rating of “Hold” by the five research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $69.00.

BNS has been the topic of a number of analyst reports. UBS Group started coverage on shares of Bank of Nova Scotia in a research report on Tuesday, July 2nd. They issued a “neutral” rating on the stock. Cibc World Mkts raised Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 20th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Mather Group LLC. lifted its position in shares of Bank of Nova Scotia by 1,388.9% during the 2nd quarter. Mather Group LLC. now owns 536 shares of the bank’s stock valued at $25,000 after buying an additional 500 shares in the last quarter. Blue Trust Inc. grew its position in Bank of Nova Scotia by 3,127.8% in the second quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock worth $27,000 after acquiring an additional 563 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Bank of Nova Scotia during the 1st quarter valued at approximately $53,000. City State Bank bought a new position in Bank of Nova Scotia during the third quarter valued at $57,000. Finally, Galibier Capital Management Ltd. bought a new position in Bank of Nova Scotia during the 1st quarter valued at about $76,000. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

Bank of Nova Scotia stock opened at $52.90 on Friday. The business’s 50 day simple moving average is $51.30 and its 200 day simple moving average is $48.40. Bank of Nova Scotia has a 12 month low of $39.79 and a 12 month high of $55.12. The company has a market cap of $65.04 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 1.64 and a beta of 1.05. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.61.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its earnings results on Tuesday, August 27th. The bank reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.01. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. The business had revenue of $8.36 billion during the quarter, compared to analyst estimates of $8.53 billion. During the same quarter in the previous year, the firm earned $1.30 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Sell-side analysts forecast that Bank of Nova Scotia will post 4.8 EPS for the current year.

Bank of Nova Scotia Cuts Dividend

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 paid a $0.768 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $3.07 dividend on an annualized basis and a dividend yield of 5.81%. Bank of Nova Scotia’s dividend payout ratio is presently 70.50%.

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.