Brokerages Set The Bank of Nova Scotia (NYSE:BNS) PT at $72.00

Shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) have been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $72.00.

A number of equities analysts recently commented on BNS shares. TD Securities upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Royal Bank of Canada upped their price target on Bank of Nova Scotia from $65.00 to $74.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 4th. UBS Group upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Monday, November 18th. Finally, Barclays upgraded shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 21st.

Bank of Nova Scotia Stock Down 0.5 %

Shares of BNS opened at $53.39 on Thursday. The company’s 50-day moving average price is $54.48 and its 200 day moving average price is $50.96. 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 firm has a market cap of $66.47 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 1.26 and a beta of 1.07.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th will be paid a $0.7535 dividend. The ex-dividend date is Tuesday, January 7th. This represents a $3.01 annualized dividend and a yield of 5.65%. Bank of Nova Scotia’s dividend payout ratio is currently 72.45%.

Institutional Trading of Bank of Nova Scotia

Institutional investors have recently modified their holdings of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Bank of Nova Scotia by 260.1% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,480,486 shares of the bank’s stock valued at $298,575,000 after acquiring an additional 3,958,580 shares during the period. Pathway Financial Advisers LLC raised its holdings in shares of Bank of Nova Scotia by 5,380.9% in the third quarter. Pathway Financial Advisers LLC now owns 3,972,234 shares of the bank’s stock valued at $216,447,000 after buying an additional 3,899,760 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Bank of Nova Scotia during the second quarter worth about $120,463,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Bank of Nova Scotia by 24.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,757,961 shares of the bank’s stock worth $640,624,000 after buying an additional 2,346,995 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in Bank of Nova Scotia by 9.6% in the 3rd quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank’s stock valued at $1,361,752,000 after acquiring an additional 2,195,604 shares during the period. Hedge funds and other institutional investors own 49.13% of the company’s stock.

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.