Research analysts at Dundee Securities started 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.

Other equities research analysts also recently issued reports about the company. Canaccord Genuity reiterated a “buy” rating on shares of Bank of Nova Scotia in a report on Tuesday, May 31st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $72.00 price objective on shares of Bank of Nova Scotia in a report on Wednesday, June 1st. Credit Suisse Group AG reiterated a “hold” rating and issued a $74.00 price objective on shares of Bank of Nova Scotia in a report on Tuesday, May 31st. RBC Capital Markets reiterated an “outperform” rating and issued a $77.00 price objective (up from $72.00) on shares of Bank of Nova Scotia in a report on Wednesday, August 31st. Finally, Desjardins reiterated a “buy” rating and issued a $73.00 price objective (up from $71.00) on shares of Bank of Nova Scotia in a 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. The company currently has an average rating of “Buy” and an average price target of $68.09.

Bank of Nova Scotia (NYSE:BNS) traded up 0.11% during midday trading on Wednesday, reaching $53.37. 136,521 shares of the company’s stock traded hands. The stock has a market cap of $64.30 billion, a PE ratio of 12.43 and a beta of 1.19. The stock’s 50 day moving average price is $52.40 and its 200-day moving average price is $50.12. Bank of Nova Scotia has a one year low of $35.01 and a one year high of $55.14.

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Bank of Nova Scotia (NYSE:BNS) last issued its quarterly earnings results on Tuesday, August 30th. The company reported $1.18 earnings per share 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 prior year, the company earned $1.45 EPS. Equities analysts predict that Bank of Nova Scotia will post $4.56 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 27th. Stockholders of record on Tuesday, October 4th will be given a dividend of $0.5724 per share. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.55. This represents a $2.29 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date is Friday, September 30th. Bank of Nova Scotia’s payout ratio is presently 51.98%.

Several hedge funds and other institutional investors have recently bought and sold shares of BNS. CIBC World Markets Inc. boosted its position in Bank of Nova Scotia by 1.5% in the second quarter. CIBC World Markets Inc. now owns 51,002,714 shares of the company’s stock worth $2,499,643,000 after buying an additional 777,443 shares during the last quarter. Jarislowsky Fraser Ltd boosted its position in Bank of Nova Scotia by 113.3% in the second quarter. Jarislowsky Fraser Ltd now owns 36,212,738 shares of the company’s stock worth $1,353,943,000 after buying an additional 19,238,416 shares during the last quarter. Vanguard Group Inc. boosted its position in Bank of Nova Scotia by 14.1% in the second quarter. Vanguard Group Inc. now owns 23,454,437 shares of the company’s stock worth $1,149,501,000 after buying an additional 2,902,862 shares during the last quarter. FMR LLC boosted its position in Bank of Nova Scotia by 50.2% in the second quarter. FMR LLC now owns 11,908,430 shares of the company’s stock worth $583,555,000 after buying an additional 3,980,450 shares during the last quarter. Finally, Guardian Capital LP boosted its position in Bank of Nova Scotia by 9.3% in the second quarter. Guardian Capital LP now owns 8,265,261 shares of the company’s stock worth $402,240,000 after buying an additional 704,865 shares in the last quarter. 49.26% of the stock is currently owned by hedge funds and other institutional investors.

About Bank of Nova Scotia

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.

5 Day Chart for NYSE:BNS

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