Bank of Nova Scotia (TSE:BNS) Sets New 1-Year High on Analyst Upgrade

Key Points

• Bank of Nova Scotia shares reached a new 52-week high of C$127 after National Bank Financial raised its price target from C$106 to C$128, while maintaining a sector-perform rating.
• Analyst sentiment remains cautious overall: the stock has a consensus “Hold” rating from 11 analysts and an average price target of C$117, below its recent trading level.
• The bank reported C$2.02 in quarterly EPS and recently increased its quarterly dividend to C$1.14, equal to an annualized C$4.56 payout and a 3.6% yield.

The Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS's share price hit a new 52-week high during mid-day trading on Friday after National Bank Financial raised their price target on the stock from C$106.00 to C$128.00. National Bank Financial currently has a sector perform rating on the stock. Bank of Nova Scotia traded as high as C$127.00 and last traded at C$126.98, with a volume of 1285409 shares changing hands. The stock had previously closed at C$126.28.

A number of other equities research analysts have also commented on the stock. Canaccord Genuity Group upped their price target on shares of Bank of Nova Scotia from C$111.00 to C$121.00 and gave the company a "hold" rating in a report on Tuesday, July 7th. Canadian Imperial Bank of Commerce upped their price objective on shares of Bank of Nova Scotia from C$116.00 to C$122.00 and gave the company a "neutral" rating in a research note on Thursday, May 28th. Barclays increased their target price on shares of Bank of Nova Scotia from C$108.00 to C$110.00 and gave the stock an "equal weight" rating in a report on Thursday, May 28th. Desjardins raised their target price on Bank of Nova Scotia from C$115.00 to C$125.00 and gave the stock a "hold" rating in a research note on Wednesday, August 5th. Finally, TD boosted their price target on Bank of Nova Scotia from C$113.00 to C$124.00 and gave the company a "hold" rating in a report on Wednesday. One equities research analyst has rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of C$117.00.

Bank of Nova Scotia Trading Up 0.6%

The firm has a market capitalization of C$154.80 billion, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 1.33 and a beta of 1.30. The company's fifty day simple moving average is C$122.05 and its 200 day simple moving average is C$109.52.

Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS last posted its earnings results on Wednesday, May 27th. The bank reported C$2.02 EPS for the quarter. The firm had revenue of C$9.85 billion during the quarter. Bank of Nova Scotia had a net margin of 15.64% and a return on equity of 11.06%. On average, analysts predict that The Bank of Nova Scotia will post 7.1286267 earnings per share for the current fiscal year.

Bank of Nova Scotia Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Wednesday, July 29th were issued a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 3.6%. This is a boost from Bank of Nova Scotia's previous quarterly dividend of $1.10. The ex-dividend date was Tuesday, July 7th. Bank of Nova Scotia's dividend payout ratio (DPR) is 60.69%.

Bank of Nova Scotia Company Profile

Scotiabank's vision is to be our clients' most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: 'for every future,' we help our clients, their families and their communities achieve success through a broad range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.5 trillion (as at January 31, 2026), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange TSX: BNS and New York Stock Exchange NYSE: BNS.

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