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 (BNS) opened at C$81.12 on Tuesday. The company has a market cap of $97,280.00, a price-to-earnings ratio of 12.50 and a beta of 0.88. Bank of Nova Scotia has a one year low of C$73.31 and a one year high of C$85.50.

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.

Analyst Recommendations for Bank of Nova Scotia (TSE:BNS)

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