Bank of Nova Scotia (TSE:BNS) Given New C$74.00 Price Target at Royal Bank of Canada

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price boosted by Royal Bank of Canada from C$65.00 to C$74.00 in a research note released on Wednesday morning,BayStreet.CA reports.

Several other brokerages have also recently commented on BNS. Cormark cut their price target on shares of Bank of Nova Scotia from C$68.00 to C$65.00 and set a “market perform” rating on the stock in a research report on Tuesday, August 20th. CIBC upped their target price on Bank of Nova Scotia from C$82.00 to C$84.00 in a report on Tuesday, November 26th. Cibc World Mkts raised Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating and boosted their price target for the stock from C$73.00 to C$90.00 in a research report on Tuesday, November 19th. Finally, Barclays raised Bank of Nova Scotia from a “strong sell” rating to a “hold” rating in a report on Thursday, November 21st. Seven equities 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$76.73.

Bank of Nova Scotia Stock Up 0.9 %

Shares of BNS stock opened at C$77.80 on Wednesday. Bank of Nova Scotia has a 12 month low of C$59.62 and a 12 month high of C$80.14. The company’s fifty day simple moving average is C$74.54 and its 200-day simple moving average is C$68.30. The firm has a market cap of C$96.47 billion, a PE ratio of 13.63, a P/E/G ratio of 1.33 and a beta of 0.97.

Bank of Nova Scotia Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th will be given a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 5.45%. Bank of Nova Scotia’s dividend payout ratio (DPR) is 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.