Bank of Nova Scotia (BNS) Receives Consensus Rating of “Buy” from Brokerages
Shares of Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) have been given a consensus rating of “Buy” by the twelve ratings firms that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is C$85.83.
Several research analysts have weighed in on the company. Barclays PLC increased their price objective on Bank of Nova Scotia from C$86.00 to C$88.00 in a research report on Friday, August 11th. BMO Capital Markets increased their target price on Bank of Nova Scotia from C$83.00 to C$85.00 and gave the stock an “outperform” rating in a report on Wednesday, August 30th. CIBC increased their target price on Bank of Nova Scotia from C$85.00 to C$87.00 in a report on Wednesday, August 30th. Scotiabank reduced their target price on Bank of Nova Scotia from C$89.00 to C$88.00 and set an “outperform” rating on the stock in a report on Wednesday, August 30th. Finally, National Bank Financial increased their target price on Bank of Nova Scotia from C$85.00 to C$86.00 and gave the stock an “outperform” rating in a report on Wednesday, August 30th.
Shares of Bank of Nova Scotia (TSE:BNS) opened at 80.65 on Thursday. The firm has a market cap of $96.64 billion and a P/E ratio of 12.57. The stock has a 50 day moving average of $78.86 and a 200 day moving average of $77.72. Bank of Nova Scotia has a 52 week low of $69.20 and a 52 week high of $82.30.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Tuesday, October 3rd will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.92%. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.76. The ex-dividend date is Monday, October 2nd.
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In other news, insider Deborah Alexander sold 7,114 shares of Bank of Nova Scotia stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of C$76.76, for a total transaction of C$546,070.64. Also, insider Kyle Mcnamara sold 3,036 shares of Bank of Nova Scotia stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of C$80.53, for a total value of C$244,489.08. Insiders have sold 10,364 shares of company stock worth $807,789 over the last three months.
About Bank of Nova Scotia
The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank 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.
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