Bank of Nova Scotia - BNS Stock Forecast, Price & News

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 in four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets. The company offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and insurance to individuals; and business banking solutions comprising lending, deposit, cash management, and trade finance solutions to small, medium, and large businesses, including automotive financing solutions to dealers and their customers. It also provides wealth management advice and solutions, including online brokerage, mobile investment, full-service brokerage, trust, private banking, and private investment counsel services; and retail mutual funds, exchange traded funds, liquid alternative funds, and institutional funds. In addition, the company offers international banking services for retail, corporate, and commercial customers; and lending and transaction, investment banking advisory, and capital markets access services to corporate customers. Further, it provides online, mobile, and telephone banking services. The company operates a network of 954 branches and approximately 3,766 automated banking machines in Canada; and approximately 1,300 branches and a network of contact and support center internationally. The Bank of Nova Scotia was founded in 1832 and is headquartered in Halifax, Canada.

Bank of Nova Scotia Stock Performance

TSE:BNS traded up C$0.68 during mid-day trading on Friday, reaching C$80.39. 1,624,810 shares of the stock were exchanged, compared to its average volume of 4,296,162. Bank of Nova Scotia has a 1-year low of C$71.21 and a 1-year high of C$95.00. The business's fifty day simple moving average is C$77.69 and its 200 day simple moving average is C$84.56. The stock has a market capitalization of C$95.93 billion and a PE ratio of 9.73.

Bank of Nova Scotia (TSE:BNS - Get Rating) (NYSE:BNS) last announced its earnings results on Wednesday, May 25th. The bank reported C$2.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of C$1.96 by C$0.22. The firm had revenue of C$7.94 billion for the quarter, compared to analyst estimates of C$7.78 billion. On average, analysts anticipate that Bank of Nova Scotia will post 8.7800001 EPS for the current year.

Bank of Nova Scotia Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 27th. Shareholders of record on Tuesday, July 5th were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, July 4th. This represents a $4.12 dividend on an annualized basis and a yield of 5.13%. This is an increase from Bank of Nova Scotia's previous quarterly dividend of $1.00. Bank of Nova Scotia's dividend payout ratio (DPR) is currently 46.00%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Royal Bank of Canada upped their target price on shares of Bank of Nova Scotia from C$93.00 to C$94.00 and gave the stock an "outperform" rating in a research report on Thursday, May 26th. Keefe, Bruyette & Woods lowered their target price on shares of Bank of Nova Scotia from C$97.00 to C$86.00 in a research report on Monday, August 8th. TD Securities increased their price target on shares of Bank of Nova Scotia from C$88.00 to C$90.00 and gave the company a "hold" rating in a research report on Thursday, May 26th. Canaccord Genuity Group increased their price target on shares of Bank of Nova Scotia from C$89.00 to C$92.00 in a research report on Thursday, May 26th. Finally, CIBC increased their price target on shares of Bank of Nova Scotia from C$86.00 to C$88.00 and gave the company a "neutral" rating in a research report on Thursday, May 26th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Bank of Nova Scotia presently has a consensus rating of "Hold" and a consensus target price of C$89.54.