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

Shares of The Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS have been given an average rating of "Hold" by the nine brokerages that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $81.00.

A number of research analysts recently commented on the company. 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 on the stock in a research report on Wednesday, February 26th. CIBC reissued a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Cibc World Mkts lowered shares of 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 note on Monday, March 31st.

Institutional Investors Weigh In On Bank of Nova Scotia

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BNS. CenterBook Partners LP purchased a new position in shares of Bank of Nova Scotia in the first quarter worth $2,060,000. PARK CIRCLE Co bought a new position in Bank of Nova Scotia during the first quarter valued at $498,000. Deutsche Bank AG raised its position in shares of Bank of Nova Scotia by 5.1% during the 1st quarter. Deutsche Bank AG now owns 1,805,936 shares of the bank's stock valued at $85,656,000 after buying an additional 87,029 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Bank of Nova Scotia by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,877,489 shares of the bank's stock worth $183,820,000 after acquiring an additional 57,145 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new stake in shares of Bank of Nova Scotia in the 1st quarter valued at approximately $1,711,000. 49.13% of the stock is owned by hedge funds and other institutional investors.

Bank of Nova Scotia Stock Performance

NYSE BNS traded up $0.11 during trading on Wednesday, reaching $50.20. The company's stock had a trading volume of 878,376 shares, compared to its average volume of 1,687,983. Bank of Nova Scotia has a 12 month low of $43.68 and a 12 month high of $57.07. The firm has a 50 day moving average price of $47.98 and a 200 day moving average price of $51.19. The firm has a market capitalization of $62.53 billion, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59.

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 paid a dividend of $0.7415 per share. This represents a $2.97 annualized dividend and a yield of 5.91%. The ex-dividend date of this dividend was Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio is currently 83.05%.

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.