Jefferies Financial Group Boosts Bank of Nova Scotia (TSE:BNS) Price Target to C$83.00

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price objective hoisted by Jefferies Financial Group from C$75.00 to C$83.00 in a report issued on Wednesday,BayStreet.CA reports.

A number of other brokerages have also recently commented on BNS. Barclays lowered their price target on Bank of Nova Scotia from C$81.00 to C$78.00 and set an “equal weight” rating for the company in a research note on Monday, June 9th. CIBC upped their price target on Bank of Nova Scotia from C$75.00 to C$77.00 in a research report on Thursday, May 22nd. Canaccord Genuity Group upped their price objective on Bank of Nova Scotia from C$81.00 to C$85.00 in a research note on Tuesday, July 22nd. National Bankshares raised their price target on Bank of Nova Scotia from C$71.00 to C$72.00 and gave the company a “sector perform” rating in a report on Wednesday, May 28th. Finally, UBS Group lowered their price objective on Bank of Nova Scotia from C$85.00 to C$78.00 in a research report on Thursday, May 22nd. Ten equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$78.29.

Bank of Nova Scotia Stock Up 0.4%

Shares of BNS stock opened at C$78.01 on Wednesday. The stock has a 50-day moving average price of C$75.52 and a 200 day moving average price of C$71.87. The firm has a market cap of C$95.60 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a 12 month low of C$62.47 and a 12 month high of C$80.14.

Bank of Nova Scotia Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 29th. Stockholders of record on Tuesday, July 29th were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Wednesday, July 2nd. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $1.06. This represents a $4.40 dividend on an annualized basis and a dividend yield of 5.6%. Bank of Nova Scotia’s payout ratio is 67.00%.

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.