Brokerages Set Bank of Nova Scotia (BNS) PT at $88.67

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) has been given a consensus recommendation of “Buy” by the twelve analysts that are presently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have issued a report on the stock in the last year is C$88.67.

Several equities analysts recently weighed in on the company. National Bank Financial raised their price objective on Bank of Nova Scotia from C$86.00 to C$88.00 and gave the company an “outperform” rating in a research note on Wednesday, November 29th. BMO Capital Markets reaffirmed an “outperform” rating and issued a C$86.00 price objective on shares of Bank of Nova Scotia in a research note on Wednesday, December 6th. Royal Bank of Canada raised their price objective on Bank of Nova Scotia from C$87.00 to C$91.00 and gave the company an “outperform” rating in a research note on Wednesday, November 29th. Canaccord Genuity raised their price objective on Bank of Nova Scotia from C$88.00 to C$92.00 in a research note on Wednesday, November 1st. Finally, Scotiabank lowered their target price on Bank of Nova Scotia from C$95.00 to C$94.00 and set an “outperform” rating on the stock in a report on Wednesday, November 29th.

In related news, insider Barbara Frances Mason sold 20,000 shares of Bank of Nova Scotia stock in a transaction on Thursday, December 7th. The stock was sold at an average price of C$82.60, for a total value of C$1,652,000.00.

Shares of Bank of Nova Scotia (TSE:BNS) traded up C$0.60 during mid-day trading on Tuesday, hitting C$82.50. The stock had a trading volume of 1,772,600 shares, compared to its average volume of 1,800,000. The stock has a market cap of $98,940.00, a P/E ratio of 12.71 and a beta of 0.88. Bank of Nova Scotia has a fifty-two week low of C$73.31 and a fifty-two week high of C$85.50.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its earnings results on Tuesday, November 28th. The bank reported C$1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.68 by C($0.03). The business had revenue of C$6.81 billion for the quarter, compared to analysts’ expectations of C$7.05 billion. Bank of Nova Scotia had a return on equity of 14.64% and a net margin of 30.39%. During the same period last year, the company posted $1.58 earnings per share.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Investors of record on Tuesday, January 2nd will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend is Friday, December 29th. Bank of Nova Scotia’s payout ratio is currently 47.00%.

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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.

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

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