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

Key Points

• The Bank of Nova Scotia has received a consensus recommendation of "Hold" from fourteen brokerages, with nine analysts giving a hold rating, four a buy rating, and one a strong buy rating.
• The average twelve-month target price for the bank's stock among analysts is C$80.62, reflecting varying price adjustments made by firms like Desjardins and UBS Group.
• Bank of Nova Scotia recently increased its quarterly dividend to $1.10 per share, leading to an annual dividend yield of 5.5%.

The Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS has been given a consensus recommendation of "Hold" by the fourteen ratings firms that are covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is C$80.62.

A number of analysts have recently issued reports on the stock. Desjardins lifted their price objective on shares of Bank of Nova Scotia from C$77.00 to C$79.00 and gave the stock a "hold" rating in a report on Wednesday, August 13th. UBS Group cut 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. Royal Bank Of Canada lowered their price target on Bank of Nova Scotia from C$81.00 to C$80.00 and set a "sector perform" rating for the company in a research report on Monday, June 9th. Jefferies Financial Group lifted their price objective on Bank of Nova Scotia from C$75.00 to C$83.00 in a research report on Wednesday, August 13th. Finally, Barclays raised their price objective on Bank of Nova Scotia from C$78.00 to C$81.00 and gave the company an "equal weight" rating in a research report on Thursday, August 14th.

Bank of Nova Scotia Stock Up 1.3%

TSE:BNS opened at C$79.70 on Friday. Bank of Nova Scotia has a twelve month low of C$62.57 and a twelve month high of C$80.14. The stock has a market cap of C$97.67 billion, a P/E ratio of 12.59, a PEG ratio of 1.33 and a beta of 0.97. The business's 50-day moving average price is C$76.21 and its two-hundred day moving average price is C$72.10.

Bank of Nova Scotia Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 29th. Shareholders of record on Tuesday, July 29th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 5.5%. This is a positive change from Bank of Nova Scotia's previous quarterly dividend of $1.06. The ex-dividend date of this dividend was Wednesday, July 2nd. Bank of Nova Scotia's dividend payout ratio is presently 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.

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