Bank of Nova Scotia (NYSE:BNS) Given “Neutral” Rating at CIBC

CIBC reiterated their neutral rating on shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in a report released on Tuesday, MarketBeat Ratings reports.

Other research analysts also recently issued research reports about the company. Barclays raised Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 21st. TD Securities raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Royal Bank of Canada increased their target price 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Bank of Nova Scotia Price Performance

Shares of NYSE BNS opened at $50.96 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average price of $52.42 and a two-hundred day moving average price of $52.17. Bank of Nova Scotia has a fifty-two week low of $43.67 and a fifty-two week high of $57.07. The firm has a market cap of $63.46 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 1.15 and a beta of 1.07.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Tuesday, January 7th were issued a $0.7535 dividend. This represents a $3.01 annualized dividend and a dividend yield of 5.92%. The ex-dividend date was Tuesday, January 7th. Bank of Nova Scotia’s dividend payout ratio (DPR) is 68.29%.

Institutional Trading of Bank of Nova Scotia

Several hedge funds have recently made changes to their positions in the stock. Magnus Financial Group LLC raised its stake in Bank of Nova Scotia by 4.1% during the 4th quarter. Magnus Financial Group LLC now owns 5,100 shares of the bank’s stock valued at $274,000 after acquiring an additional 200 shares in the last quarter. Sigma Planning Corp raised its stake in Bank of Nova Scotia by 1.9% during the 3rd quarter. Sigma Planning Corp now owns 11,089 shares of the bank’s stock valued at $604,000 after acquiring an additional 210 shares in the last quarter. Private Advisor Group LLC raised its stake in Bank of Nova Scotia by 3.5% during the 4th quarter. Private Advisor Group LLC now owns 6,248 shares of the bank’s stock valued at $336,000 after acquiring an additional 211 shares in the last quarter. Signaturefd LLC raised its stake in Bank of Nova Scotia by 1.2% during the 3rd quarter. Signaturefd LLC now owns 18,470 shares of the bank’s stock valued at $1,006,000 after acquiring an additional 216 shares in the last quarter. Finally, Addison Advisors LLC raised its stake in Bank of Nova Scotia by 7.3% during the 3rd quarter. Addison Advisors LLC now owns 3,357 shares of the bank’s stock valued at $183,000 after acquiring an additional 227 shares in the last quarter. Institutional investors own 49.13% of the company’s stock.

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.