Brian J. Porter Acquires 5,000 Shares of Bank of Nova Scotia (BNS) Stock

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) Director Brian J. Porter acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, September 12th. The stock was purchased at an average price of C$75.18 per share, with a total value of C$375,900.00.

BNS stock traded up C$0.19 on Monday, reaching C$75.27. 2,137,700 shares of the company traded hands, compared to its average volume of 2,067,451. Bank of Nova Scotia has a one year low of C$73.91 and a one year high of C$85.50.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last posted its quarterly earnings data on Tuesday, August 28th. The bank reported C$1.76 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$1.78 by C($0.02). Bank of Nova Scotia had a net margin of 32.97% and a return on equity of 16.32%. The company had revenue of C$7.18 billion for the quarter, compared to the consensus estimate of C$7.25 billion.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 29th. Shareholders of record on Tuesday, October 2nd will be issued a $0.85 dividend. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, October 1st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.52%.

A number of research firms have recently issued reports on BNS. National Bank Financial cut their price objective on Bank of Nova Scotia from C$85.00 to C$81.00 and set a “sector perform” rating for the company in a report on Wednesday, August 29th. TD Securities dropped their target price on Bank of Nova Scotia from C$95.00 to C$90.00 and set a “buy” rating for the company in a report on Wednesday, August 29th. Eight Capital increased their target price on Bank of Nova Scotia from C$93.00 to C$94.00 in a report on Wednesday, August 29th. Royal Bank of Canada dropped their target price on Bank of Nova Scotia from C$95.00 to C$86.00 and set a “sector perform” rating for the company in a report on Monday, June 11th. Finally, BMO Capital Markets restated an “outperform” rating and set a C$85.00 target price on shares of Bank of Nova Scotia in a report on Monday, June 11th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Bank of Nova Scotia has an average rating of “Buy” and a consensus price target of C$88.62.

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.

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