The Bank of Nova Scotia (NYSE:BNS) Receives $81.00 Consensus Price Target from Brokerages

Shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) have received a consensus rating of “Hold” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $81.00.

Several equities research analysts recently commented on BNS shares. CIBC reissued a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Cibc World Mkts downgraded Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Bank of America lowered Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a report on Monday, March 31st. Finally, Royal Bank of Canada lowered their target price on Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th.

Bank of Nova Scotia Stock Up 1.7 %

BNS stock opened at $46.86 on Friday. The firm’s 50-day moving average is $48.57 and its two-hundred day moving average is $51.70. The company has a market capitalization of $58.37 billion, a price-to-earnings ratio of 10.85, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02. Bank of Nova Scotia has a 52 week low of $43.68 and a 52 week high of $57.07. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59.

Bank of Nova Scotia Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be issued a $0.7415 dividend. This represents a $2.97 dividend on an annualized basis and a dividend yield of 6.33%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia’s payout ratio is 83.05%.

Hedge Funds Weigh In On Bank of Nova Scotia

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Magnus Financial Group LLC increased its holdings in Bank of Nova Scotia by 4.1% in the fourth quarter. Magnus Financial Group LLC now owns 5,100 shares of the bank’s stock worth $274,000 after buying an additional 200 shares during the last quarter. Private Advisor Group LLC grew its position in Bank of Nova Scotia by 3.5% in the fourth quarter. Private Advisor Group LLC now owns 6,248 shares of the bank’s stock worth $336,000 after acquiring an additional 211 shares in the last quarter. Moran Wealth Management LLC increased its stake in shares of Bank of Nova Scotia by 6.5% during the 4th quarter. Moran Wealth Management LLC now owns 3,925 shares of the bank’s stock worth $211,000 after purchasing an additional 240 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Bank of Nova Scotia by 4.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,399 shares of the bank’s stock valued at $290,000 after purchasing an additional 248 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its stake in shares of Bank of Nova Scotia by 10.2% in the 4th quarter. Lindbrook Capital LLC now owns 2,860 shares of the bank’s stock valued at $154,000 after purchasing an additional 264 shares during the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Company Profile

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.