The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) announced a quarterly dividend on Tuesday, December 1st, Zacks reports. Investors of record on Tuesday, January 5th will be paid a dividend of 0.676 per share by the bank on Wednesday, January 27th. This represents a $2.70 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date is Monday, January 4th.
The Bank of Nova Scotia has decreased its dividend payment by 10.1% over the last three years and has raised its dividend every year for the last 1 years. The Bank of Nova Scotia has a payout ratio of 67.9% meaning its dividend is sufficiently covered by earnings. Analysts expect The Bank of Nova Scotia to earn $5.42 per share next year, which means the company should continue to be able to cover its $2.81 annual dividend with an expected future payout ratio of 51.8%.
Shares of BNS opened at $54.04 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.40. The business has a fifty day moving average of $51.32 and a 200 day moving average of $44.44. The Bank of Nova Scotia has a 52-week low of $31.94 and a 52-week high of $56.78. The company has a market cap of $65.47 billion, a PE ratio of 13.51, a P/E/G ratio of 1.09 and a beta of 0.98.
The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its earnings results on Monday, November 30th. The bank reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.53. The Bank of Nova Scotia had a return on equity of 10.47% and a net margin of 15.57%. The business had revenue of $7.51 billion for the quarter, compared to analyst estimates of $7.61 billion. During the same quarter last year, the firm posted $1.82 earnings per share. The business’s revenue was down 5.9% compared to the same quarter last year. As a group, research analysts anticipate that The Bank of Nova Scotia will post 4.73 earnings per share for the current fiscal year.
A number of analysts have weighed in on BNS shares. Credit Suisse Group increased their target price on The Bank of Nova Scotia from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 2nd. Bank of America upgraded The Bank of Nova Scotia from a “neutral” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Tuesday, October 6th. Zacks Investment Research upgraded The Bank of Nova Scotia from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Friday, December 4th. Canaccord Genuity raised their price target on The Bank of Nova Scotia from $63.50 to $66.50 and gave the company a “hold” rating in a research note on Wednesday, December 2nd. Finally, Royal Bank of Canada upgraded The Bank of Nova Scotia from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $71.00 to $77.00 in a research note on Tuesday, December 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $64.35.
About The Bank of Nova Scotia
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 Banking and Markets, and Global Wealth Management segments.
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