Bank of Nova Scotia (TSE:BNS) Upgraded at UBS Group

UBS Group upgraded shares of Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) from a hold rating to a strong-buy rating in a research report released on Monday,Zacks.com reports.

A number of other equities analysts have also issued reports on BNS. CIBC raised Bank of Nova Scotia from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from C$78.00 to C$82.00 in a report on Friday, September 20th. TD Securities increased their price target on Bank of Nova Scotia from C$80.00 to C$82.00 in a research note on Friday, November 15th. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating and raised their price target for the company from C$71.00 to C$84.00 in a report on Tuesday. BMO Capital Markets upped their price objective on shares of Bank of Nova Scotia from C$72.00 to C$84.00 in a report on Monday. Finally, Royal Bank of Canada boosted their price target on shares of Bank of Nova Scotia from C$62.00 to C$65.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 28th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Bank of Nova Scotia currently has a consensus rating of “Moderate Buy” and an average price target of C$74.75.

Bank of Nova Scotia Stock Performance

TSE BNS opened at C$78.71 on Monday. The firm has a market capitalization of C$97.60 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a one year low of C$56.83 and a one year high of C$78.99. The company has a 50-day simple moving average of C$73.12 and a 200-day simple moving average of C$67.40.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings data on Tuesday, August 27th. The bank reported C$1.63 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of C$1.63. Bank of Nova Scotia had a return on equity of 9.49% and a net margin of 25.38%. The business had revenue of C$8.36 billion during the quarter, compared to analyst estimates of C$8.50 billion. Equities analysts forecast that Bank of Nova Scotia will post 7.1286267 earnings per share for the current year.

Bank of Nova Scotia Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Wednesday, October 2nd were given a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date was Wednesday, October 2nd. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 74.26%.

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.