The Bank of Nova Scotia (TSE:BNS) Receives Average Recommendation of "Hold" from Analysts

Key Points

• The Bank of Nova Scotia (TSE:BNS) has received a consensus recommendation of "Hold" from 14 analysts, with 9 recommending hold, 4 advising buy, and 1 suggesting a strong buy.
• The average target price for the stock is C$77.62, with recent adjustments ranging from C$70.00 to C$85.00 by various analysts.
• The bank will pay a quarterly dividend of $1.10 per share, increasing from the previous $1.06, resulting in an annualized yield of 5.69%.

The Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS has been assigned an average recommendation of "Hold" from the fourteen research firms that are covering the firm, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is C$77.62.

BNS has been the topic of a number of recent research reports. National Bankshares raised their price target on shares of Bank of Nova Scotia from C$71.00 to C$72.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 28th. Barclays lowered their price target on shares of Bank of Nova Scotia from C$81.00 to C$78.00 and set an "equal weight" rating on the stock in a research report on Monday, June 9th. CIBC raised their target price on shares of Bank of Nova Scotia from C$75.00 to C$77.00 in a report on Thursday, May 22nd. Canaccord Genuity Group raised their target price on shares of Bank of Nova Scotia from C$81.00 to C$85.00 in a report on Tuesday, July 22nd. Finally, UBS Group decreased their target price on shares of Bank of Nova Scotia from C$85.00 to C$78.00 in a report on Thursday, May 22nd.

Bank of Nova Scotia Stock Performance

TSE:BNS traded down C$0.54 during mid-day trading on Tuesday, reaching C$76.55. 923,951 shares of the company's stock were exchanged, compared to its average volume of 4,870,672. Bank of Nova Scotia has a one year low of C$60.68 and a one year high of C$80.14. The firm has a market capitalization of C$93.81 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. The business's fifty day simple moving average is C$74.77 and its two-hundred day simple moving average is C$71.69.

Bank of Nova Scotia Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 29th. Stockholders of record on Tuesday, July 29th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Wednesday, July 2nd. This is an increase from Bank of Nova Scotia's previous quarterly dividend of $1.06. Bank of Nova Scotia's dividend payout ratio is 67.00%.

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.