Scotiabank (BNS) Director Buys C$154,520.00 in Stock

Scotiabank (TSE:BNS) (NYSE:BNS) Director Scott Thomson bought 2,000 shares of Scotiabank stock in a transaction that occurred on Friday, April 6th. The stock was purchased at an average cost of C$77.26 per share, for a total transaction of C$154,520.00.

BNS stock opened at C$77.04 on Monday. Scotiabank has a twelve month low of C$73.31 and a twelve month high of C$85.50.

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Scotiabank (TSE:BNS) (NYSE:BNS) last released its quarterly earnings data on Tuesday, February 27th. The bank reported C$1.75 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.65 by C$0.10. Scotiabank had a net margin of 32.97% and a return on equity of 16.32%. The company had revenue of C$7.09 billion for the quarter, compared to analysts’ expectations of C$7 billion.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 26th. Shareholders of record on Tuesday, April 3rd will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, April 2nd. This represents a $3.28 dividend on an annualized basis and a yield of 4.26%. This is a boost from Scotiabank’s previous quarterly dividend of $0.79.

Several brokerages recently weighed in on BNS. CSFB raised their target price on shares of Scotiabank from C$84.00 to C$86.00 in a report on Friday, January 19th. BMO Capital Markets set a C$86.00 price objective on shares of Scotiabank and gave the stock an “outperform” rating in a report on Wednesday, February 28th. TD Securities raised their price objective on shares of Scotiabank from C$92.00 to C$93.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Desjardins raised their price objective on shares of Scotiabank from C$91.00 to C$92.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, Royal Bank of Canada raised their price objective on shares of Scotiabank from C$91.00 to C$92.00 in a report on Wednesday, February 14th. Seven investment analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus price target of C$91.00.

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About Scotiabank

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.

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