Bank of Nova Scotia (BNS) Receives Average Recommendation of “Hold” from Brokerages

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) has been assigned an average rating of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $84.50.

A number of brokerages recently commented on BNS. Zacks Investment Research cut Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research report on Tuesday. Desjardins restated an “average” rating and issued a $81.00 price target on shares of Bank of Nova Scotia in a research report on Wednesday, February 27th. CIBC cut Bank of Nova Scotia from a “sector outperform” rating to a “neutral” rating in a research report on Wednesday, February 27th. TD Securities cut Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research report on Tuesday, February 26th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $88.00 price target on shares of Bank of Nova Scotia in a research report on Thursday, November 29th.

BNS stock traded up $0.31 during trading hours on Friday, hitting $54.95. 50,896 shares of the stock were exchanged, compared to its average volume of 775,852. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $66.97 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 1.63 and a beta of 1.17. Bank of Nova Scotia has a 12 month low of $48.34 and a 12 month high of $63.53.



Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings results on Tuesday, February 26th. The bank reported $1.75 EPS for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.34. Bank of Nova Scotia had a return on equity of 13.93% and a net margin of 19.86%. The company had revenue of $7.60 billion for the quarter, compared to analysts’ expectations of $7.78 billion. During the same quarter last year, the business earned $1.74 earnings per share. Bank of Nova Scotia’s revenue was up 7.3% on a year-over-year basis. Research analysts expect that Bank of Nova Scotia will post 5.52 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Tuesday, April 2nd will be given a $0.663 dividend. The ex-dividend date of this dividend is Monday, April 1st. This represents a $2.65 dividend on an annualized basis and a dividend yield of 4.83%. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.65. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 45.77%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Merit Financial Group LLC boosted its stake in Bank of Nova Scotia by 4.1% in the fourth quarter. Merit Financial Group LLC now owns 5,838 shares of the bank’s stock valued at $291,000 after buying an additional 228 shares in the last quarter. Cornerstone Advisors Inc. boosted its stake in Bank of Nova Scotia by 14.5% in the fourth quarter. Cornerstone Advisors Inc. now owns 2,114 shares of the bank’s stock valued at $105,000 after buying an additional 268 shares in the last quarter. Nwam LLC boosted its stake in Bank of Nova Scotia by 5.5% in the fourth quarter. Nwam LLC now owns 5,355 shares of the bank’s stock valued at $267,000 after buying an additional 280 shares in the last quarter. Creative Planning boosted its stake in Bank of Nova Scotia by 2.3% in the fourth quarter. Creative Planning now owns 13,224 shares of the bank’s stock valued at $659,000 after buying an additional 303 shares in the last quarter. Finally, Bogart Wealth LLC boosted its stake in Bank of Nova Scotia by 26.8% in the fourth quarter. Bogart Wealth LLC now owns 1,655 shares of the bank’s stock valued at $82,000 after buying an additional 350 shares in the last quarter. Institutional investors own 47.89% of the company’s stock.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company 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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Analyst Recommendations for Bank of Nova Scotia (NYSE:BNS)

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