Bank of Nova Scotia (TSE:BNS) Reaches New 52-Week High – What’s Next?

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS)’s stock price reached a new 52-week high on Thursday . The company traded as high as C$74.29 and last traded at C$73.64, with a volume of 696786 shares changing hands. The stock had previously closed at C$73.83.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. TD Securities raised their target price on shares of Bank of Nova Scotia from C$69.00 to C$71.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Jefferies Financial Group lifted their price objective on Bank of Nova Scotia from C$65.00 to C$69.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. UBS Group set a C$67.00 target price on Bank of Nova Scotia and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Royal Bank of Canada raised their price target on Bank of Nova Scotia from C$62.00 to C$65.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 28th. Finally, Cormark dropped their price objective on shares of Bank of Nova Scotia from C$68.00 to C$65.00 and set a “market perform” rating for the company in a research note on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$68.25.

Bank of Nova Scotia Trading Up 0.1 %

The stock’s 50-day moving average is C$69.20 and its 200-day moving average is C$66.07. The stock has a market cap of C$91.71 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 1.33 and a beta of 0.97.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings data on Tuesday, August 27th. The bank reported C$1.63 earnings per share (EPS) for the quarter, hitting the consensus estimate of C$1.63. Bank of Nova Scotia had a net margin of 25.38% and a return on equity of 9.49%. The company had revenue of C$8.36 billion during the quarter, compared to the consensus estimate of C$8.50 billion. On average, equities analysts predict that The Bank of Nova Scotia will post 7.1286267 earnings per share for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date of this dividend is Wednesday, October 2nd. Bank of Nova Scotia’s dividend payout ratio is presently 74.26%.

Bank of Nova Scotia Company Profile

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.