Bank of Nova Scotia (BNS) Given Average Recommendation of “Buy” by Analysts

Shares of Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) have earned a consensus rating of “Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is C$88.33.

A number of brokerages have recently issued reports on BNS. National Bank Financial lowered their target price on shares of Bank of Nova Scotia from C$85.00 to C$81.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 29th. TD Securities lowered their target price on shares of Bank of Nova Scotia from C$95.00 to C$90.00 and set a “buy” rating for the company in a research note on Wednesday, August 29th. Finally, Eight Capital boosted their target price on shares of Bank of Nova Scotia from C$93.00 to C$94.00 in a research note on Wednesday, August 29th.

TSE BNS traded down C$0.12 on Monday, hitting C$70.97. 1,663,278 shares of the stock were exchanged, compared to its average volume of 2,127,703. Bank of Nova Scotia has a 52-week low of C$69.01 and a 52-week high of C$85.50.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its earnings results on Tuesday, August 28th. The bank reported C$1.76 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$1.78 by C($0.02). The firm had revenue of C$7.18 billion for the quarter, compared to analysts’ expectations of C$7.25 billion.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 29th. Investors of record on Tuesday, October 2nd were issued a $0.85 dividend. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 4.79%. The ex-dividend date was Monday, October 1st.

In other news, Director Brian J. Porter acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The stock was purchased at an average cost of C$75.18 per share, for a total transaction of C$375,900.00. Also, Director Nora Anne Aufreiter acquired 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 26th. The stock was purchased at an average price of C$77.58 per share, with a total value of C$116,370.00. Insiders purchased 13,312 shares of company stock valued at $1,006,223 over the last 90 days.

About Bank of Nova Scotia

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.

Featured Story: How to Invest in Growth Stocks

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

Receive News & Ratings for Bank of Nova Scotia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Nova Scotia and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply