Bank of Nova Scotia (TSE:BNS) Reaches New 52-Week High After Analyst Upgrade

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS)’s stock price reached a new 52-week high during trading on Monday after TD Securities raised their price target on the stock from C$93.00 to C$99.00. The company traded as high as C$94.23 and last traded at C$93.98, with a volume of 1051773 shares changing hands. The stock had previously closed at C$93.54.

BNS has been the topic of a number of other reports. Desjardins boosted their target price on Bank of Nova Scotia from C$79.00 to C$85.00 and gave the stock a “hold” rating in a research report on Wednesday, August 27th. Jefferies Financial Group lifted their price objective on Bank of Nova Scotia from C$83.00 to C$86.00 in a research note on Wednesday, August 27th. Canaccord Genuity Group increased their target price on Bank of Nova Scotia from C$87.00 to C$90.00 and gave the company a “buy” rating in a research report on Wednesday, August 27th. Royal Bank Of Canada boosted their price target on shares of Bank of Nova Scotia from C$80.00 to C$86.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 27th. Finally, National Bankshares set a C$81.00 price target on shares of Bank of Nova Scotia and gave the company a “sector perform” rating in a research note on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of C$86.31.

Bank of Nova Scotia Stock Performance

The company’s fifty day moving average price is C$90.10 and its 200-day moving average price is C$80.39. The stock has a market cap of C$116.22 billion, a P/E ratio of 17.89, a price-to-earnings-growth ratio of 1.33 and a beta of 1.33.

Bank of Nova Scotia Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 29th. Shareholders of record on Wednesday, October 29th were paid a $1.10 dividend. The ex-dividend date of this dividend was Tuesday, October 7th. This represents a $4.40 annualized dividend and a yield of 4.7%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 81.84%.

Bank of Nova Scotia Company Profile

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It 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.