The Bank of Nova Scotia (TSE:BNS) to Issue Quarterly Dividend of $1.06

The Bank of Nova Scotia (TSE:BNSGet Free Report) (NYSE:BNS) declared a quarterly dividend on Tuesday, May 28th, Zacks reports. Shareholders of record on Wednesday, July 3rd will be given a dividend of 1.06 per share by the bank on Monday, July 29th. This represents a $4.24 annualized dividend and a dividend yield of 6.63%. The ex-dividend date of this dividend is Wednesday, July 3rd.

Bank of Nova Scotia Stock Performance

BNS traded down C$1.07 during trading on Wednesday, reaching C$63.97. 1,197,378 shares of the stock were exchanged, compared to its average volume of 3,923,947. The stock has a market cap of C$78.68 billion, a P/E ratio of 10.73, a price-to-earnings-growth ratio of 1.33 and a beta of 0.98. The stock’s 50 day moving average price is C$66.02 and its two-hundred day moving average price is C$64.10. Bank of Nova Scotia has a twelve month low of C$55.20 and a twelve month high of C$70.40.

Bank of Nova Scotia (TSE:BNSGet Free Report) (NYSE:BNS) last issued its earnings results on Tuesday, February 27th. The bank reported C$1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.61 by C$0.08. The business had revenue of C$8.43 billion during the quarter, compared to the consensus estimate of C$8.12 billion. Bank of Nova Scotia had a net margin of 26.41% and a return on equity of 9.89%. Equities research analysts predict that Bank of Nova Scotia will post 6.4780876 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BNS. National Bankshares increased their price target on Bank of Nova Scotia from C$66.00 to C$67.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 28th. BMO Capital Markets raised their price objective on shares of Bank of Nova Scotia from C$69.00 to C$74.00 in a research report on Friday, April 5th. CIBC lowered their target price on Bank of Nova Scotia from C$66.00 to C$64.00 and set a “neutral” rating on the stock in a research note on Friday, March 8th. Jefferies Financial Group boosted their price target on Bank of Nova Scotia from C$66.00 to C$69.00 in a research note on Monday, May 13th. Finally, Canaccord Genuity Group increased their price objective on Bank of Nova Scotia from C$65.00 to C$67.50 and gave the stock a “hold” rating in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$67.44.

View Our Latest Stock Report on BNS

Bank of Nova Scotia Company Profile

(Get Free Report)

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 through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.

Further Reading

Dividend History for Bank of Nova Scotia (TSE:BNS)

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