Shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) have earned an average recommendation of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $90.00.
A number of equities analysts have recently commented on the company. Zacks Investment Research downgraded Bank of Nova Scotia from a “hold” rating to a “sell” rating in a report on Friday. Desjardins restated an “average” rating and issued a $85.00 price objective on shares of Bank of Nova Scotia in a report on Thursday. Finally, Canaccord Genuity downgraded Bank of Nova Scotia from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th.
Several large investors have recently made changes to their positions in the stock. Raymond James & Associates raised its holdings in shares of Bank of Nova Scotia by 1.9% during the 2nd quarter. Raymond James & Associates now owns 51,024 shares of the bank’s stock valued at $2,889,000 after buying an additional 951 shares during the period. Creative Planning grew its stake in Bank of Nova Scotia by 7.4% during the 2nd quarter. Creative Planning now owns 14,084 shares of the bank’s stock valued at $806,000 after purchasing an additional 971 shares in the last quarter. Coastline Trust Co grew its stake in Bank of Nova Scotia by 24.8% during the 2nd quarter. Coastline Trust Co now owns 6,800 shares of the bank’s stock valued at $390,000 after purchasing an additional 1,350 shares in the last quarter. Smithbridge Asset Management Inc. DE grew its stake in Bank of Nova Scotia by 6.2% during the 2nd quarter. Smithbridge Asset Management Inc. DE now owns 25,045 shares of the bank’s stock valued at $1,433,000 after purchasing an additional 1,455 shares in the last quarter. Finally, Nwam LLC grew its stake in Bank of Nova Scotia by 38.9% during the 2nd quarter. Nwam LLC now owns 5,235 shares of the bank’s stock valued at $300,000 after purchasing an additional 1,465 shares in the last quarter. Institutional investors and hedge funds own 46.70% of the company’s stock.
Shares of Bank of Nova Scotia stock traded down $0.69 during trading hours on Monday, reaching $53.59. The stock had a trading volume of 1,004,960 shares, compared to its average volume of 873,436. The company has a market cap of $66.50 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth ratio of 1.51 and a beta of 1.25. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.07 and a quick ratio of 1.07. Bank of Nova Scotia has a 1 year low of $52.63 and a 1 year high of $66.78.
Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Tuesday, August 28th. The bank reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.39. The company had revenue of $7.18 billion for the quarter, compared to the consensus estimate of $7.34 billion. Bank of Nova Scotia had a return on equity of 14.62% and a net margin of 21.55%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the business posted $1.66 EPS. Research analysts anticipate that Bank of Nova Scotia will post 5.39 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 29th. Investors of record on Tuesday, October 2nd were issued a dividend of $0.6539 per share. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $0.64. This represents a $2.62 annualized dividend and a dividend yield of 4.88%. The ex-dividend date was Monday, October 1st. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 50.19%.
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.
Recommended Story: What is Cost of Capital?
Receive News & Ratings for Bank of Nova Scotia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Nova Scotia and related companies with MarketBeat.com's FREE daily email newsletter.