The Bank of Nova Scotia (NYSE:BNS) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) have earned an average rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $72.00.

BNS has been the subject of several recent research reports. UBS Group upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Monday, November 18th. TD Securities raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Barclays raised Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 21st. Finally, Royal Bank of Canada upped their price target on Bank of Nova Scotia from $65.00 to $74.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 4th.

Institutional Investors Weigh In On Bank of Nova Scotia

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its stake in shares of Bank of Nova Scotia by 1,588.2% in the third quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock worth $47,000 after acquiring an additional 810 shares during the period. City State Bank purchased a new position in Bank of Nova Scotia in the 3rd quarter worth approximately $57,000. Blue Trust Inc. boosted its stake in Bank of Nova Scotia by 171.6% in the 3rd quarter. Blue Trust Inc. now owns 1,578 shares of the bank’s stock worth $86,000 after purchasing an additional 997 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Bank of Nova Scotia during the 2nd quarter valued at approximately $104,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Bank of Nova Scotia during the third quarter valued at approximately $111,000. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Trading Down 0.7 %

Bank of Nova Scotia stock opened at $51.63 on Thursday. Bank of Nova Scotia has a 52-week low of $43.67 and a 52-week high of $57.07. The company has a market cap of $64.28 billion, a P/E ratio of 11.95, a P/E/G ratio of 1.26 and a beta of 1.08. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The business has a 50-day simple moving average of $54.50 and a two-hundred day simple moving average of $51.13.

Bank of Nova Scotia Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Tuesday, January 7th will be issued a $0.7535 dividend. This represents a $3.01 annualized dividend and a yield of 5.84%. The ex-dividend date is Tuesday, January 7th. Bank of Nova Scotia’s dividend payout ratio is currently 72.45%.

Bank of Nova Scotia Company Profile

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.