The Bank of Nova Scotia (NYSE:BNS) Receives $81.00 Average Target Price from Analysts

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) has been given a consensus rating of “Hold” by the nine brokerages that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $81.00.

BNS has been the subject of several recent research reports. Royal Bank of Canada decreased their price target on Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. CIBC restated a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Cibc World Mkts cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, Bank of America downgraded Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research report on Monday, March 31st.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $50.20 on Wednesday. The stock’s 50-day moving average is $47.98 and its two-hundred day moving average is $51.17. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. Bank of Nova Scotia has a 1 year low of $43.68 and a 1 year high of $57.07. The firm has a market cap of $62.53 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 1.16 and a beta of 1.11.

Bank of Nova Scotia Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st were given a $0.7415 dividend. This represents a $2.97 annualized dividend and a yield of 5.91%. The ex-dividend date was Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio is presently 83.05%.

Institutional Investors Weigh In On Bank of Nova Scotia

Several large investors have recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp bought a new position in Bank of Nova Scotia during the fourth quarter valued at about $25,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Bank of Nova Scotia during the fourth quarter valued at approximately $31,000. Allworth Financial LP boosted its holdings in Bank of Nova Scotia by 121.1% during the fourth quarter. Allworth Financial LP now owns 639 shares of the bank’s stock worth $33,000 after buying an additional 350 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new position in Bank of Nova Scotia in the first quarter worth approximately $52,000. Finally, Independence Bank of Kentucky grew its position in Bank of Nova Scotia by 38.4% in the first quarter. Independence Bank of Kentucky now owns 1,175 shares of the bank’s stock worth $56,000 after buying an additional 326 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

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.