The Bank of Nova Scotia (BNS) Price Target Raised to $85.00

The Bank of Nova Scotia (BNS) Price Target Raised to $85.00

BNS has been the subject of several other research reports. Zacks Investment Research cut Bank of Nova Scotia from a buy rating to a hold rating in a report on Tuesday, January 31st. CIBC upgraded Bank of Nova Scotia from a sector perform rating to a sector outperform rating in a report on Tuesday, March 7th. TD Securities cut Bank of Nova Scotia to a buy rating in a report on Wednesday, March 1st. Royal Bank of Canada increased their price objective on Bank of Nova Scotia from $86.00 to $87.00 and gave the stock an outperform rating in a report on Wednesday, May 31st. Finally, Barclays PLC upgraded Bank of Nova Scotia from an equal weight rating to an overweight rating in a report on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $70.70.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) had its price target upped by Bank of America Corp from $81.00 to $85.00 in a research note published on Wednesday. They currently have a buy rating on the bank’s stock.

Bank of Nova Scotia (BNS) opened at 56.80 on Wednesday. The company has a 50 day moving average price of $56.10 and a 200-day moving average price of $57.64. The firm has a market capitalization of $68.62 billion, a price-to-earnings ratio of 12.29 and a beta of 1.30. Bank of Nova Scotia has a 1-year low of $47.59 and a 1-year high of $62.89.

Bank of Nova Scotia (NYSE:BNS) last released its quarterly earnings data on Tuesday, May 30th. The bank reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.08. Bank of Nova Scotia had a return on equity of 14.36% and a net margin of 20.78%. The business had revenue of $6.58 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter last year, the business posted $1.46 EPS. The business’s revenue was down .2% on a year-over-year basis. On average, analysts forecast that Bank of Nova Scotia will post $4.80 EPS for the current fiscal year. The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 27th. Investors of record on Tuesday, July 4th will be given a dividend of $0.5635 per share. This represents a $2.25 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend is Thursday, June 29th. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 50.11%.

A number of hedge funds and other institutional investors have recently bought and sold shares of BNS. Lombard Odier Asset Management Europe Ltd bought a new position in Bank of Nova Scotia during the third quarter worth $1,303,000. 1832 Asset Management L.P. raised its position in Bank of Nova Scotia by 22.3% in the third quarter. 1832 Asset Management L.P. now owns 13,716,590 shares of the bank’s stock worth $727,111,000 after buying an additional 2,497,081 shares during the period. Moors & Cabot Inc. raised its position in Bank of Nova Scotia by 0.7% in the third quarter. Moors & Cabot Inc. now owns 8,490 shares of the bank’s stock worth $451,000 after buying an additional 58 shares during the period. D. E. Shaw & Co. Inc. raised its position in Bank of Nova Scotia by 10.2% in the third quarter. D. E. Shaw & Co. Inc. now owns 187,700 shares of the bank’s stock worth $9,948,000 after buying an additional 17,411 shares during the period. Finally, OMERS ADMINISTRATION Corp raised its position in Bank of Nova Scotia by 0.6% in the third quarter. OMERS ADMINISTRATION Corp now owns 2,691,620 shares of the bank’s stock worth $142,379,000 after buying an additional 16,620 shares during the period. 50.72% of the stock is owned by institutional investors. Bank of Nova Scotia Company Profile

The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “BNS”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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