The Bank of Nova Scotia (TSE:BNS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) have been given a consensus recommendation of “Moderate Buy” by the fourteen brokerages that are covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is C$77.92.

Several analysts recently commented on BNS shares. Royal Bank of Canada increased their price objective on shares of Bank of Nova Scotia from C$74.00 to C$83.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 8th. TD Securities cut their price objective on shares of Bank of Nova Scotia from C$82.00 to C$81.00 and set a “buy” rating on the stock in a research report on Wednesday, December 4th. Accountability Research set a C$82.00 price objective on shares of Bank of Nova Scotia and gave the company a “buy” rating in a research report on Thursday, January 9th. CIBC raised their price target on shares of Bank of Nova Scotia from C$82.00 to C$84.00 in a report on Tuesday, November 26th. Finally, Cibc World Mkts raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Friday, September 20th.

Bank of Nova Scotia Price Performance

Shares of Bank of Nova Scotia stock opened at C$74.43 on Friday. Bank of Nova Scotia has a 1 year low of C$60.68 and a 1 year high of C$80.14. The company has a 50-day moving average of C$77.00 and a 200 day moving average of C$70.80. The firm has a market cap of C$92.29 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 1.33 and a beta of 0.97.

Bank of Nova Scotia Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Tuesday, January 7th will be issued a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 5.70%. The ex-dividend date of this dividend is Tuesday, January 7th. Bank of Nova Scotia’s payout ratio is 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.