The Bank of Nova Scotia (TSE:BNS) Given Average Recommendation of "Hold" by Brokerages

Key Points

• The Bank of Nova Scotia has received an average recommendation of "Hold" from 13 rating firms, with eight analysts endorsing a hold status, four recommending a buy, and one suggesting a strong buy.
• The company's average 1-year price target among brokerages is C$85.85, although recent adjustments have seen prices ranging from C$78.00 to C$93.00.
• The Bank of Nova Scotia declared a quarterly dividend increase to $1.10 per share, resulting in an annualized dividend yield of 4.9% with a payout ratio of 81.84%.

The Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS has earned a consensus recommendation of "Hold" from the thirteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is C$85.85.

A number of research analysts recently issued reports on the company. UBS Group dropped their price target on Bank of Nova Scotia from C$85.00 to C$78.00 in a research note on Thursday, May 22nd. National Bankshares raised their target price on shares of Bank of Nova Scotia from C$73.00 to C$81.00 in a research report on Wednesday, August 27th. Desjardins lifted their target price on shares of Bank of Nova Scotia from C$79.00 to C$85.00 and gave the company a "hold" rating in a report on Wednesday, August 27th. CIBC upped their price target on shares of Bank of Nova Scotia from C$90.00 to C$93.00 and gave the company a "neutral" rating in a research report on Friday, September 5th. Finally, Canaccord Genuity Group raised their price objective on shares of Bank of Nova Scotia from C$87.00 to C$90.00 and gave the stock a "buy" rating in a research report on Wednesday, August 27th.

Bank of Nova Scotia Stock Performance

BNS opened at C$89.13 on Wednesday. The business's 50-day simple moving average is C$80.27 and its 200-day simple moving average is C$73.79. Bank of Nova Scotia has a one year low of C$62.57 and a one year high of C$89.17. The stock has a market capitalization of C$110.74 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 1.33 and a beta of 1.35.

Bank of Nova Scotia Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 29th. Investors of record on Tuesday, July 29th were issued a dividend of $1.10 per share. This is an increase from Bank of Nova Scotia's previous quarterly dividend of $1.06. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Wednesday, July 2nd. Bank of Nova Scotia's dividend payout ratio is 81.84%.

About Bank of Nova Scotia

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It offers a range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

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