Analysts Set Bank of Nova Scotia (BNS) Target Price at $89.09

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Shares of Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) have earned an average rating of “Buy” from the twelve research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is C$89.09.

BNS has been the topic of a number of research analyst reports. CIBC cut their price target on shares of Bank of Nova Scotia from C$93.00 to C$88.00 in a report on Monday, June 11th. Cormark upped their price target on shares of Bank of Nova Scotia from C$87.00 to C$88.00 in a report on Friday, June 1st. Scotiabank cut their price target on shares of Bank of Nova Scotia from C$91.00 to C$90.00 and set an “outperform” rating on the stock in a report on Wednesday, May 30th. National Bank Financial cut shares of Bank of Nova Scotia from an “outperform market weight” rating to a “sector perform market weight” rating in a report on Friday, June 8th. Finally, Barclays upped their price target on shares of Bank of Nova Scotia from C$89.00 to C$90.00 in a report on Wednesday, May 30th.

Shares of TSE BNS traded up C$0.80 during mid-day trading on Wednesday, reaching C$77.42. The company had a trading volume of 2,275,100 shares, compared to its average volume of 1,993,115. Bank of Nova Scotia has a 52 week low of C$73.91 and a 52 week high of C$85.50.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last posted its quarterly earnings results on Tuesday, May 29th. The bank reported C$1.71 EPS for the quarter, topping the Zacks’ consensus estimate of C$1.68 by C$0.03. The firm had revenue of C$7.06 billion for the quarter, compared to analysts’ expectations of C$6.89 billion. Bank of Nova Scotia had a net margin of 32.97% and a return on equity of 16.32%.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 27th. Investors of record on Tuesday, July 3rd were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date was Friday, June 29th.

In other Bank of Nova Scotia news, insider Michael D. Penner acquired 10,000 shares of the stock in a transaction that occurred on Monday, June 11th. The stock was bought at an average cost of C$58.25 per share, with a total value of C$582,500.00. Also, Director Scott Thomson acquired 1,900 shares of the stock in a transaction that occurred on Friday, June 1st. The stock was acquired at an average cost of C$77.25 per share, with a total value of C$146,775.00.

About Bank of Nova Scotia

The Bank of Nova Scotia provides various financial services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. It offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.

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Analyst Recommendations for Bank of Nova Scotia (TSE:BNS)

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