The Bank of Nova Scotia (NYSE:BNS) Receives Consensus Rating of “Moderate Buy” from Analysts

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $75.50.

BNS has been the topic of several research analyst reports. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Cibc World Mkts cut shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. CIBC reaffirmed a “neutral” rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Barclays raised Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research report on Thursday, November 21st. Finally, Bank of America upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th.

Bank of Nova Scotia Stock Up 1.7 %

Shares of NYSE:BNS opened at $48.76 on Tuesday. Bank of Nova Scotia has a 12-month low of $43.68 and a 12-month high of $57.07. The stock’s 50-day moving average price is $50.43 and its two-hundred day moving average price is $52.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The firm has a market cap of $60.73 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 1.16 and a beta of 1.11.

Bank of Nova Scotia Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be given a $0.7415 dividend. This represents a $2.97 annualized dividend and a yield of 6.08%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 82.77%.

Institutional Investors Weigh In On Bank of Nova Scotia

Several institutional investors and hedge funds have recently modified their holdings of the stock. Natixis Advisors LLC grew its position in Bank of Nova Scotia by 12.1% in the third quarter. Natixis Advisors LLC now owns 51,240 shares of the bank’s stock valued at $2,792,000 after acquiring an additional 5,542 shares in the last quarter. Adero Partners LLC purchased a new position in shares of Bank of Nova Scotia in the third quarter valued at $205,000. Ontario Teachers Pension Plan Board acquired a new stake in Bank of Nova Scotia during the 3rd quarter valued at $1,211,000. Moran Wealth Management LLC purchased a new stake in Bank of Nova Scotia during the 3rd quarter worth $201,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Bank of Nova Scotia by 3.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 63,849 shares of the bank’s stock worth $3,479,000 after buying an additional 2,090 shares in the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

About 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 Wealth Management, and Global Banking and Markets segments.