Bank of Nova Scotia (BNS) Receives Consensus Rating of “Buy” from Brokerages
Shares of Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) have been assigned an average recommendation of “Buy” from the twelve research firms that are covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have issued a report on the stock in the last year is C$84.82.
Several research analysts recently commented on the stock. Barclays PLC raised shares of Bank of Nova Scotia from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, May 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a C$86.00 target price on shares of Bank of Nova Scotia in a research note on Tuesday, April 18th. Finally, Scotiabank lifted their target price on shares of Bank of Nova Scotia from C$86.00 to C$89.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 31st.
Bank of Nova Scotia (TSE BNS) opened at 78.49 on Tuesday. The company’s 50-day moving average is $77.11 and its 200-day moving average is $77.64. The firm has a market capitalization of $94.33 billion and a PE ratio of 12.48. Bank of Nova Scotia has a 52-week low of $63.24 and a 52-week high of $82.30.
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last posted its quarterly earnings results on Tuesday, May 30th. The bank reported $1.63 EPS for the quarter, topping the consensus estimate of $1.56 by $0.07. The firm had revenue of $6.58 billion for the quarter, compared to the consensus estimate of $6.61 billion. Bank of Nova Scotia had a net margin of 31.32% and a return on equity of 14.58%. Analysts forecast that Bank of Nova Scotia will post $6.48 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 27th. Investors of record on Tuesday, July 4th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.87%. The ex-dividend date is Thursday, June 29th.
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In related news, Director Brian J. Porter purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The shares were acquired at an average price of C$77.74 per share, for a total transaction of C$77,740.00.
About Bank of Nova Scotia
The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank offers a range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.
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