Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) has earned a consensus rating of “Hold” from the nine brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $82.33.
A number of analysts recently weighed in on BNS shares. CIBC cut shares of Bank of Nova Scotia from a “sector outperform” rating to a “neutral” rating in a report on Wednesday, February 27th. Zacks Investment Research upgraded shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. ValuEngine upgraded shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research report on Friday, June 7th. Barclays restated an “average” rating and issued a $78.00 price target on shares of Bank of Nova Scotia in a research report on Thursday, May 30th. Finally, Desjardins restated an “average” rating and issued a $81.00 price target on shares of Bank of Nova Scotia in a research report on Wednesday, February 27th.
NYSE:BNS traded down $0.21 during trading hours on Tuesday, reaching $54.14. 475,360 shares of the company’s stock were exchanged, compared to its average volume of 745,888. The stock has a market cap of $66.12 billion, a P/E ratio of 9.95, a P/E/G ratio of 2.05 and a beta of 1.15. Bank of Nova Scotia has a 12 month low of $48.34 and a 12 month high of $60.60. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a 50-day moving average price of $52.89.
Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Tuesday, May 28th. The bank reported $1.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.74 by ($0.04). The business had revenue of $7.80 billion for the quarter, compared to the consensus estimate of $7.60 billion. Bank of Nova Scotia had a return on equity of 13.55% and a net margin of 19.20%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.70 earnings per share. On average, sell-side analysts forecast that Bank of Nova Scotia will post 5.26 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Tuesday, July 2nd will be given a $0.65 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.60 annualized dividend and a dividend yield of 4.80%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 47.98%.
Several large investors have recently modified their holdings of the stock. FMR LLC raised its holdings in shares of Bank of Nova Scotia by 3.1% during the 1st quarter. FMR LLC now owns 1,575,307 shares of the bank’s stock valued at $83,861,000 after purchasing an additional 46,658 shares in the last quarter. Merit Financial Group LLC raised its holdings in shares of Bank of Nova Scotia by 25.6% during the 1st quarter. Merit Financial Group LLC now owns 7,330 shares of the bank’s stock valued at $390,000 after purchasing an additional 1,492 shares in the last quarter. Cerebellum GP LLC bought a new position in shares of Bank of Nova Scotia during the 1st quarter valued at $304,000. Princeton Global Asset Management LLC bought a new position in shares of Bank of Nova Scotia during the 1st quarter valued at $34,000. Finally, Belpointe Asset Management LLC bought a new position in shares of Bank of Nova Scotia during the 1st quarter valued at $101,000. Institutional investors and hedge funds own 45.22% of the company’s stock.
About Bank of Nova Scotia
The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company 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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