Bank of Nova Scotia (BNS) Receives Average Recommendation of “Buy” from Analysts

Shares of Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) have received a consensus rating of “Buy” from the twelve ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is C$89.09.

BNS has been the topic of a number of recent research reports. CIBC lowered their price objective on Bank of Nova Scotia from C$93.00 to C$88.00 in a research note on Monday, June 11th. CSFB boosted their price objective on Bank of Nova Scotia from C$86.00 to C$87.00 in a research note on Thursday, March 1st. Cormark lifted their target price on Bank of Nova Scotia from C$87.00 to C$88.00 in a research report on Friday, June 1st. Scotiabank reduced their target price on Bank of Nova Scotia from C$91.00 to C$90.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 30th. Finally, Royal Bank of Canada lifted their target price on Bank of Nova Scotia from C$92.00 to C$95.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th.

Shares of TSE:BNS opened at C$75.90 on Tuesday. Bank of Nova Scotia has a one year low of C$75.20 and a one year high of C$85.50.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings data on Tuesday, May 29th. The bank reported C$1.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$1.68 by C$0.03. The company had revenue of C$7.06 billion for the quarter, compared to analyst estimates of C$6.89 billion. Bank of Nova Scotia had a return on equity of 16.32% and a net margin of 32.97%.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 27th. Shareholders of record on Tuesday, July 3rd will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 4.32%.

In other Bank of Nova Scotia news, Director Scott Thomson bought 2,000 shares of Bank of Nova Scotia stock in a transaction on Friday, April 6th. The shares were bought at an average price of C$77.26 per share, for a total transaction of C$154,520.00. Also, insider Michael D. Penner bought 10,000 shares of Bank of Nova Scotia stock in a transaction on Monday, June 11th. The stock was acquired at an average price of C$58.25 per share, for a total transaction of C$582,500.00. Insiders acquired 13,900 shares of company stock worth $883,795 in the last 90 days.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various financial services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. It offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.

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

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