Bank of Nova Scotia (TSE:BNS) Price Target Raised to C$78.00

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price increased by National Bankshares from C$66.00 to C$78.00 in a report published on Wednesday morning,BayStreet.CA reports.

Several other brokerages also recently commented on BNS. CIBC raised Bank of Nova Scotia from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from C$78.00 to C$82.00 in a report on Friday, September 20th. UBS Group raised Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Bank of America upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating and raised their target price for the company from C$73.00 to C$90.00 in a research note on Tuesday, November 19th. Cormark reduced 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. Finally, Jefferies Financial Group raised their price objective on shares of Bank of Nova Scotia from C$65.00 to C$69.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Seven 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$75.82.

Bank of Nova Scotia Trading Up 0.5 %

Shares of BNS opened at C$78.91 on Wednesday. The stock has a market cap of C$97.85 billion, a PE ratio of 13.82, a PEG ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a 1 year low of C$56.83 and a 1 year high of C$79.16. The stock has a 50 day simple moving average of C$73.46 and a 200-day simple moving average of C$67.64.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its quarterly earnings results on Tuesday, August 27th. The bank reported C$1.63 earnings per share (EPS) for the quarter, meeting the consensus estimate of C$1.63. The firm had revenue of C$8.36 billion during the quarter, compared to the consensus estimate of C$8.50 billion. Bank of Nova Scotia had a net margin of 25.38% and a return on equity of 9.49%. On average, sell-side analysts forecast that Bank of Nova Scotia will post 7.1286267 EPS for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Investors of record on Wednesday, October 2nd were issued a $1.06 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $4.24 annualized dividend and a yield of 5.37%. Bank of Nova Scotia’s dividend payout ratio is currently 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.