Bank of Nova Scotia (BNS) Now Covered by Dundee Securities
Stock analysts at Dundee Securities assumed coverage on shares of Bank of Nova Scotia (NYSE:BNS) in a research note issued on Wednesday. The firm set a “buy” rating on the stock.
BNS has been the topic of several other reports. TD Securities reaffirmed a “buy” rating and set a $74.00 price objective (up from $70.00) on shares of Bank of Nova Scotia in a research report on Wednesday, August 31st. TheStreet raised Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research report on Tuesday, August 30th. Macquarie cut Bank of Nova Scotia from an “outperform” rating to a “neutral” rating in a research report on Thursday, June 9th. Credit Suisse Group AG reissued a “hold” rating and issued a $74.00 target price on shares of Bank of Nova Scotia in a research report on Tuesday, May 31st. Finally, National Bank Financial reissued a “sector perform” rating and issued a $70.00 target price (up from $66.00) on shares of Bank of Nova Scotia in a research report on Thursday, September 1st. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Bank of Nova Scotia currently has an average rating of “Buy” and an average price target of $68.09.
Bank of Nova Scotia (NYSE:BNS) opened at 53.31 on Wednesday. The firm’s 50-day moving average is $52.40 and its 200 day moving average is $50.12. The company has a market cap of $64.23 billion, a price-to-earnings ratio of 12.42 and a beta of 1.19. Bank of Nova Scotia has a 12-month low of $35.01 and a 12-month high of $55.14.
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Bank of Nova Scotia (NYSE:BNS) last released its quarterly earnings data on Tuesday, August 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.48 by $0.30. Bank of Nova Scotia had a net margin of 20.84% and a return on equity of 14.04%. During the same period in the previous year, the firm earned $1.45 EPS. On average, equities analysts expect that Bank of Nova Scotia will post $4.56 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 27th. Investors of record on Tuesday, October 4th will be issued a dividend of $0.5724 per share. The ex-dividend date of this dividend is Friday, September 30th. This represents a $2.29 dividend on an annualized basis and a yield of 4.29%. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.55. Bank of Nova Scotia’s payout ratio is presently 51.98%.
Several large investors have recently modified their holdings of the company. Advisor Group Inc. purchased a new stake in shares of Bank of Nova Scotia during the second quarter valued at $120,000. Glenmede Trust Co. NA boosted its stake in shares of Bank of Nova Scotia by 2.1% in the second quarter. Glenmede Trust Co. NA now owns 3,553 shares of the company’s stock valued at $173,000 after buying an additional 74 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Bank of Nova Scotia by 29.2% in the second quarter. Signaturefd LLC now owns 3,555 shares of the company’s stock valued at $174,000 after buying an additional 803 shares in the last quarter. 1st Global Advisors Inc. purchased a new stake in shares of Bank of Nova Scotia during the second quarter valued at $208,000. Finally, BB&T Securities LLC purchased a new stake in shares of Bank of Nova Scotia during the first quarter valued at $208,000. Institutional investors and hedge funds own 49.26% of the company’s stock.
Bank of Nova Scotia Company Profile
The Bank of Nova Scotia (Scotiabank or the Bank) is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and parts of Asia. The Company’s segments include Canadian Banking, International Banking, Global Banking and Markets (GBM), and Other.
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