Bank of Nova Scotia (BNS) Receives Average Rating of “Buy” from Analysts
Shares of Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) have received an average recommendation of “Buy” from the twelve research firms that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is C$88.67.
A number of research analysts have recently issued reports on the stock. BMO Capital Markets reiterated an “outperform” rating and set a C$86.00 price target on shares of Bank of Nova Scotia in a research note on Wednesday, December 6th. Citigroup boosted their price target on shares of Bank of Nova Scotia from C$90.00 to C$93.00 in a research note on Friday, November 17th. Canaccord Genuity boosted their price target on shares of Bank of Nova Scotia from C$88.00 to C$92.00 in a research note on Wednesday, November 1st. National Bank Financial boosted their price target on shares of Bank of Nova Scotia from C$86.00 to C$88.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 29th. Finally, Royal Bank of Canada boosted their price target on shares of Bank of Nova Scotia from C$87.00 to C$91.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 29th.
In other Bank of Nova Scotia news, insider Barbara Frances Mason sold 20,000 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of C$82.60, for a total transaction of C$1,652,000.00. Also, insider Kyle Mcnamara sold 3,036 shares of the company’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of C$80.53, for a total transaction of C$244,489.08. Insiders have sold 23,250 shares of company stock worth $1,913,718 over the last 90 days.
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last posted its quarterly earnings data on Tuesday, November 28th. The bank reported C$1.65 EPS for the quarter, missing analysts’ consensus estimates of C$1.68 by C($0.03). The business had revenue of C$6.81 billion during the quarter, compared to analyst estimates of C$7.05 billion. Bank of Nova Scotia had a net margin of 30.39% and a return on equity of 14.64%. During the same quarter in the prior year, the firm posted $1.58 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Shareholders of record on Tuesday, January 2nd will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $3.16 annualized dividend and a yield of 3.90%. Bank of Nova Scotia’s payout ratio is currently 47.00%.
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Bank of Nova Scotia Company Profile
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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