Bank of Nova Scotia (TSE:BNS) Price Target Raised to C$104.00

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price boosted by Desjardins from C$100.00 to C$104.00 in a research note released on Thursday morning,BayStreet.CA reports. The brokerage currently has a hold rating on the bank’s stock.

BNS has been the topic of a number of other reports. National Bankshares set a C$81.00 target price on Bank of Nova Scotia and gave the stock a “sector perform” rating in a report on Monday, September 22nd. TD Securities raised their price objective on Bank of Nova Scotia from C$93.00 to C$99.00 in a research note on Monday, November 10th. CIBC lifted their price objective on Bank of Nova Scotia from C$100.00 to C$103.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Jefferies Financial Group increased their target price on shares of Bank of Nova Scotia from C$86.00 to C$96.00 in a report on Tuesday, November 25th. Finally, Barclays lifted their price target on shares of Bank of Nova Scotia from C$95.00 to C$97.00 in a report on Wednesday, December 3rd. Four investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Bank of Nova Scotia has a consensus rating of “Hold” and an average target price of C$93.85.

Bank of Nova Scotia Trading Up 0.8%

BNS opened at C$100.12 on Thursday. The company’s 50 day moving average is C$94.68 and its 200 day moving average is C$85.47. The company has a market cap of C$124.71 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.33 and a beta of 1.35. Bank of Nova Scotia has a 12-month low of C$62.57 and a 12-month high of C$100.94.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its earnings results on Tuesday, December 2nd. The bank reported C$1.93 EPS for the quarter. The business had revenue of C$9.77 billion during the quarter. Bank of Nova Scotia had a net margin of 17.68% and a return on equity of 9.64%. As a group, analysts predict that Bank of Nova Scotia will post 7.1286267 EPS for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 29th. Shareholders of record on Wednesday, October 29th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Tuesday, October 7th. Bank of Nova Scotia’s dividend payout ratio (DPR) is 76.19%.

Insider Activity

In other news, insider Julie Walsh sold 3,716 shares of Bank of Nova Scotia stock in a transaction dated Monday, December 15th. The stock was sold at an average price of C$100.62, for a total value of C$373,903.92. Following the sale, the insider directly owned 1,430 shares of the company’s stock, valued at approximately C$143,886.60. The trade was a 72.21% decrease in their ownership of the stock. 0.03% of the stock is currently owned by insiders.

About Bank of Nova Scotia

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.