Brokerages Set The Bank of Nova Scotia (TSE:BNS) Target Price at C$106.08

Shares of The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) have received a consensus rating of “Hold” from the ten analysts that are presently covering the company, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is C$106.08.

A number of research firms recently weighed in on BNS. TD Securities downgraded Bank of Nova Scotia from a “buy” rating to a “hold” rating and decreased their price target for the company from C$112.00 to C$111.00 in a research note on Tuesday, March 3rd. Jefferies Financial Group lifted their price target on Bank of Nova Scotia from C$97.00 to C$104.00 in a research note on Wednesday, February 11th. Canaccord Genuity Group downgraded Bank of Nova Scotia from a “buy” rating to a “hold” rating and decreased their price target for the company from C$118.00 to C$110.00 in a research note on Monday, March 9th. Barclays lifted their price target on Bank of Nova Scotia from C$106.00 to C$108.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 25th. Finally, Raymond James Financial lifted their price target on Bank of Nova Scotia from C$114.00 to C$117.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th.

Bank of Nova Scotia Price Performance

Bank of Nova Scotia stock opened at C$97.17 on Friday. Bank of Nova Scotia has a 1-year low of C$62.57 and a 1-year high of C$106.39. The company has a market cap of C$119.76 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 1.33 and a beta of 1.16. The stock’s 50 day moving average price is C$99.97 and its 200 day moving average price is C$97.33.

Bank of Nova Scotia Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 28th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Tuesday, April 7th. Bank of Nova Scotia’s payout ratio is presently 64.69%.

Bank of Nova Scotia Company Profile

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It 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. The bank’s international operations span numerous countries and are more concentrated in Central and South America.