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

Key Points

• Ten analysts give Bank of Nova Scotia an average recommendation of Hold (nine holds, one buy) with a mean 1-year price target of C$106.08.
• Shares opened at C$97.64, trade in a 52-week range of C$62.57–C$106.39 with a market cap of C$120.34B and a P/E of 14.49; the bank declared a quarterly dividend of $1.10 (annualized $4.40) yielding 4.5% with an ex-dividend date of April 7.
• Analyst activity has been mixed recently: Canaccord downgraded BNS from buy to hold and cut its target, while UBS, CIBC, Raymond James (rated outperform) and Barclays have lifted price targets or adjusted ratings upward.

Shares of The Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS have received an average recommendation of "Hold" from the ten analysts that are covering the firm, Marketbeat reports. Nine investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is C$106.08.

Several equities research analysts have recently issued reports on BNS shares. Canaccord Genuity Group cut shares of Bank of Nova Scotia from a "buy" rating to a "hold" rating and decreased their price objective for the stock from C$118.00 to C$110.00 in a research report on Monday, March 9th. UBS Group raised their price target on Bank of Nova Scotia from C$118.00 to C$120.00 in a research note on Wednesday, February 25th. Canadian Imperial Bank of Commerce lifted their price target on Bank of Nova Scotia from C$108.00 to C$109.00 in a report on Thursday, March 5th. Raymond James Financial upped their price objective on Bank of Nova Scotia from C$114.00 to C$117.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 25th. Finally, Barclays increased their price objective on Bank of Nova Scotia from C$106.00 to C$108.00 and gave the company an "equal weight" rating in a report on Wednesday, February 25th.

Bank of Nova Scotia Price Performance

TSE BNS opened at C$97.64 on Friday. Bank of Nova Scotia has a 52 week low of C$62.57 and a 52 week high of C$106.39. The stock has a market capitalization of C$120.34 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 1.33 and a beta of 1.16. The firm has a 50 day moving average of C$100.20 and a two-hundred day moving average of C$97.15.

Bank of Nova Scotia Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, April 28th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, April 7th. Bank of Nova Scotia's dividend payout ratio is 64.69%.

Bank of Nova Scotia Company Profile

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. The bank's international operations span numerous countries and are more concentrated in Central and South America.

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