The Bank of Nova Scotia (TSE:BNS) Receives Average Rating of “Hold” from Brokerages

Shares of The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) have earned a consensus recommendation of “Hold” from the thirteen analysts that are currently covering the company, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is C$76.73.

A number of research analysts have commented on the company. TD Securities set a C$81.00 price target on Bank of Nova Scotia and gave the company a “buy” rating in a research report on Tuesday, March 4th. Bank of America lowered Bank of Nova Scotia from a “buy” rating to a “neutral” rating and dropped their price target for the stock from C$82.00 to C$70.00 in a research note on Monday. CIBC reduced their price objective on shares of Bank of Nova Scotia from C$81.00 to C$75.00 in a research report on Wednesday, March 5th. Cibc World Mkts cut shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada reduced their price target on shares of Bank of Nova Scotia from C$83.00 to C$81.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th.

Bank of Nova Scotia Trading Down 1.7 %

Shares of TSE:BNS opened at C$67.09 on Wednesday. The company has a 50-day moving average price of C$71.28 and a 200-day moving average price of C$73.64. The company has a market cap of C$82.21 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a 12 month low of C$60.68 and a 12 month high of C$80.14.

Bank of Nova Scotia Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Monday, April 28th will be given a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 67.00%.

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.