Bank of Nova Scotia (BNS) Stock Rating Reaffirmed by TD Securities

TD Securities reissued their buy rating on shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in a report published on Wednesday.

Several other research analysts have also issued reports on the company. BMO Capital Markets reaffirmed a buy rating on shares of Bank of Nova Scotia in a research report on Wednesday. Barclays reaffirmed a buy rating on shares of Bank of Nova Scotia in a research report on Tuesday, November 27th. Zacks Investment Research raised Bank of Nova Scotia from a sell rating to a hold rating in a research report on Tuesday, November 27th. Canaccord Genuity reaffirmed a hold rating on shares of Bank of Nova Scotia in a research report on Thursday, November 22nd. Finally, Desjardins reaffirmed an average rating and set a $85.00 target price on shares of Bank of Nova Scotia in a research report on Thursday, November 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $82.40.

Shares of BNS opened at $54.38 on Wednesday. Bank of Nova Scotia has a 52 week low of $52.09 and a 52 week high of $66.78. The firm has a market capitalization of $66.77 billion, a PE ratio of 10.01, a PEG ratio of 1.50 and a beta of 1.25. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.06 and a quick ratio of 1.07.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings results on Tuesday, November 27th. The bank reported $1.35 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.35. Bank of Nova Scotia had a return on equity of 14.31% and a net margin of 21.04%. The company had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.64 billion. During the same period in the prior year, the company earned $1.64 EPS. Bank of Nova Scotia’s revenue was up 9.3% compared to the same quarter last year. As a group, analysts expect that Bank of Nova Scotia will post 5.68 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 29th. Investors of record on Wednesday, January 2nd will be given a dividend of $0.646 per share. This represents a $2.58 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend is Monday, December 31st. Bank of Nova Scotia’s dividend payout ratio is currently 48.35%.

A number of large investors have recently made changes to their positions in the stock. Bank of Montreal Can raised its position in Bank of Nova Scotia by 8.0% during the 3rd quarter. Bank of Montreal Can now owns 50,478,972 shares of the bank’s stock worth $3,010,061,000 after purchasing an additional 3,741,346 shares during the last quarter. Vanguard Group Inc. raised its position in Bank of Nova Scotia by 3.9% during the 3rd quarter. Vanguard Group Inc. now owns 32,022,181 shares of the bank’s stock worth $1,909,483,000 after purchasing an additional 1,199,502 shares during the last quarter. Toronto Dominion Bank raised its position in Bank of Nova Scotia by 37.5% during the 2nd quarter. Toronto Dominion Bank now owns 20,945,499 shares of the bank’s stock worth $1,199,742,000 after purchasing an additional 5,709,563 shares during the last quarter. Great West Life Assurance Co. Can raised its position in Bank of Nova Scotia by 0.9% during the 3rd quarter. Great West Life Assurance Co. Can now owns 14,097,135 shares of the bank’s stock worth $841,305,000 after purchasing an additional 119,591 shares during the last quarter. Finally, Nordea Investment Management AB bought a new position in Bank of Nova Scotia during the 3rd quarter worth $650,249,000. 46.42% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various financial services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. It offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.

Read More: What are Closed-End Mutual Funds?

Analyst Recommendations for Bank of Nova Scotia (NYSE:BNS)

Receive News & Ratings for Bank of Nova Scotia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Nova Scotia and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit