Bank of Nova Scotia (The) (NYSE:BNS) Given Consensus Rating of “Hold” by Brokerages

Shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) have been assigned an average rating of “Hold” from the six brokerages that are presently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $97.00.

Several research firms have commented on BNS. Raymond James Financial assumed coverage on Bank of Nova Scotia in a research report on Tuesday, November 25th. They issued an “outperform” rating on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bank of Nova Scotia in a report on Monday. Royal Bank Of Canada increased their price objective on shares of Bank of Nova Scotia from $86.00 to $97.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 3rd. Finally, Wall Street Zen upgraded shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th.

Bank of Nova Scotia Trading Down 1.9%

Shares of BNS stock opened at $71.43 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.70. Bank of Nova Scotia has a fifty-two week low of $44.09 and a fifty-two week high of $73.38. The firm’s 50 day moving average price is $67.41 and its two-hundred day moving average price is $61.44. The stock has a market cap of $88.28 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 0.95 and a beta of 1.13.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Tuesday, December 2nd. The bank reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. Bank of Nova Scotia had a net margin of 10.60% and a return on equity of 12.10%. The business had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $6.85 billion. During the same quarter last year, the firm posted $1.57 EPS. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, analysts anticipate that Bank of Nova Scotia will post 4.91 EPS for the current year.

Bank of Nova Scotia Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Tuesday, January 6th will be issued a $1.10 dividend. The ex-dividend date is Tuesday, January 6th. This represents a $4.40 dividend on an annualized basis and a yield of 6.2%. Bank of Nova Scotia’s payout ratio is currently 78.61%.

Institutional Trading of Bank of Nova Scotia

A number of hedge funds and other institutional investors have recently modified their holdings of BNS. Mondrian Investment Partners LTD purchased a new position in Bank of Nova Scotia in the third quarter valued at about $30,000. Quarry LP purchased a new stake in Bank of Nova Scotia during the 3rd quarter worth approximately $35,000. Virtus Advisers LLC acquired a new position in shares of Bank of Nova Scotia in the 3rd quarter valued at approximately $39,000. Cypress Capital Management LLC WY purchased a new position in shares of Bank of Nova Scotia during the 2nd quarter valued at approximately $33,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Bank of Nova Scotia during the third quarter worth approximately $45,000. 49.13% of the stock is owned by hedge funds and other institutional investors.

About Bank of Nova Scotia

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.