Bank of Nova Scotia (NYSE:BNS) Price Target Raised to C$90.00

Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) had its target price lifted by TD Securities from C$88.00 to C$90.00 in a research note released on Thursday, The Fly reports.

Several other equities research analysts have also recently commented on BNS. Desjardins boosted their price target on Bank of Nova Scotia from C$95.00 to C$99.00 in a research note on Thursday, March 3rd. BMO Capital Markets upped their price target on Bank of Nova Scotia from C$93.00 to C$95.00 in a report on Wednesday, March 2nd. CIBC lowered Bank of Nova Scotia from a sector outperform rating to a neutral rating in a report on Monday, April 11th. StockNews.com started coverage on Bank of Nova Scotia in a research note on Thursday, March 31st. They issued a hold rating for the company. Finally, Credit Suisse Group restated a neutral rating on shares of Bank of Nova Scotia in a research note on Friday, May 20th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $92.22.

Shares of Bank of Nova Scotia stock opened at $67.06 on Thursday. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.46. The company’s 50-day moving average price is $67.19 and its two-hundred day moving average price is $69.23. Bank of Nova Scotia has a 52 week low of $59.05 and a 52 week high of $74.86. The stock has a market cap of $80.32 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 1.71 and a beta of 0.94.

Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) last issued its quarterly earnings results on Wednesday, May 25th. The bank reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.65. The firm had revenue of $7.94 billion for the quarter, compared to analysts’ expectations of $7.87 billion. Bank of Nova Scotia had a return on equity of 15.66% and a net margin of 25.78%. Bank of Nova Scotia’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $1.50 EPS. On average, equities analysts predict that Bank of Nova Scotia will post 6.69 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Tuesday, July 5th will be paid a $0.801 dividend. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.79. The ex-dividend date is Friday, July 1st. This represents a $3.20 annualized dividend and a yield of 4.78%. Bank of Nova Scotia’s dividend payout ratio is presently 48.63%.

A number of large investors have recently added to or reduced their stakes in the business. CWM LLC raised its position in shares of Bank of Nova Scotia by 2,750.0% during the first quarter. CWM LLC now owns 342 shares of the bank’s stock worth $25,000 after purchasing an additional 330 shares during the period. JFS Wealth Advisors LLC raised its position in shares of Bank of Nova Scotia by 178.0% during the first quarter. JFS Wealth Advisors LLC now owns 353 shares of the bank’s stock worth $25,000 after purchasing an additional 226 shares during the period. Hazlett Burt & Watson Inc. acquired a new stake in shares of Bank of Nova Scotia during the first quarter worth about $28,000. West Bancorporation Inc. acquired a new stake in shares of Bank of Nova Scotia during the fourth quarter worth about $33,000. Finally, Retirement Planning Co of New England Inc. acquired a new stake in shares of Bank of Nova Scotia during the fourth quarter worth about $42,000. 45.01% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Nova Scotia Company Profile (Get Rating)

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 in four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.

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