Shares of Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) have earned an average recommendation of “Buy” from the thirteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is C$88.62.
A number of analysts have recently weighed in on BNS shares. National Bank Financial dropped their price target on Bank of Nova Scotia from C$85.00 to C$81.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 29th. Eight Capital increased their price target on Bank of Nova Scotia from C$93.00 to C$94.00 in a research report on Wednesday, August 29th. Finally, TD Securities dropped their price target on Bank of Nova Scotia from C$95.00 to C$90.00 and set a “buy” rating on the stock in a research report on Wednesday, August 29th.
In other Bank of Nova Scotia news, Director Aaron William Regent bought 3,300 shares of the stock in a transaction that occurred on Friday, September 7th. The shares were purchased at an average cost of C$74.87 per share, for a total transaction of C$247,071.00. Also, Director Brian J. Porter bought 5,000 shares of the stock in a transaction that occurred on Wednesday, September 12th. The stock was acquired at an average price of C$75.18 per share, for a total transaction of C$375,900.00. Insiders have bought a total of 13,312 shares of company stock worth $1,006,223 over the last quarter.
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its earnings results on Tuesday, August 28th. The bank reported C$1.76 EPS for the quarter, missing analysts’ consensus estimates of C$1.78 by C($0.02). Bank of Nova Scotia had a return on equity of 16.32% and a net margin of 32.97%. The firm had revenue of C$7.18 billion for the quarter, compared to the consensus estimate of C$7.25 billion.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 29th. Stockholders of record on Tuesday, October 2nd will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.86%. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, October 1st.
About Bank of Nova Scotia
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.
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