Bank of Nova Scotia (TSE:BNS) Sets New 1-Year High - What's Next?

Key Points

• Bank of Nova Scotia shares hit a new 52-week high, trading as high as C$124.74 and closing near that level on Monday. The stock was up about 0.2% on the session.
• Wall Street sentiment remains cautious overall: the stock has one Buy and nine Hold ratings, with a consensus price target of C$111.54. Several firms recently raised their price targets, but most still rate it neutral or hold.
• The bank also raised its quarterly dividend to C$1.14 per share from C$1.10, putting the annualized yield at about 3.7%. Its latest quarterly results showed C$2.02 EPS on C$9.85 billion in revenue.

Shares of The Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS hit a new 52-week high during trading on Monday . The company traded as high as C$124.74 and last traded at C$124.30, with a volume of 1003959 shares changing hands. The stock had previously closed at C$124.14.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BNS. Jefferies Financial Group increased their price target on shares of Bank of Nova Scotia from C$104.00 to C$105.00 in a research note on Wednesday, May 20th. National Bank Financial raised their target price on shares of Bank of Nova Scotia from C$100.00 to C$106.00 and gave the company a "sector perform" rating in a research note on Friday, May 15th. Canadian Imperial Bank of Commerce lifted their target price on shares of Bank of Nova Scotia from C$116.00 to C$122.00 and gave the company a "neutral" rating in a report on Thursday, May 28th. Canaccord Genuity Group boosted their price target on Bank of Nova Scotia from C$111.00 to C$121.00 and gave the stock a "hold" rating in a research report on Tuesday, July 7th. Finally, Desjardins raised their price objective on Bank of Nova Scotia from C$108.00 to C$115.00 and gave the company a "hold" rating in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Bank of Nova Scotia currently has an average rating of "Hold" and a consensus price target of C$111.54.

Bank of Nova Scotia Stock Up 0.2%

The firm's fifty day simple moving average is C$114.56 and its 200-day simple moving average is C$105.72. The firm has a market capitalization of C$152.46 billion, a PE ratio of 17.15, a PEG ratio of 1.33 and a beta of 1.29.

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

Bank of Nova Scotia Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Wednesday, July 29th will be paid a dividend of $1.14 per share. The ex-dividend date is Tuesday, July 7th. This represents a $4.56 annualized dividend and a yield of 3.7%. This is a positive change from Bank of Nova Scotia's previous quarterly dividend of $1.10. Bank of Nova Scotia's dividend payout ratio (DPR) is 60.69%.

About Bank of Nova Scotia

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.