Bank of Nova Scotia (TSE:BNS) Rating Increased to Buy at TD Securities

TD Securities upgraded shares of Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) from a hold rating to a buy rating in a research report report published on Monday morning, MarketBeat.com reports. They currently have C$80.00 price objective on the bank’s stock, up from their previous price objective of C$71.00.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada upped their target price on shares of Bank of Nova Scotia from C$62.00 to C$65.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 28th. Cibc World Mkts raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. BMO Capital Markets dropped their target price on Bank of Nova Scotia from C$74.00 to C$72.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 28th. Jefferies Financial Group increased their price target on Bank of Nova Scotia from C$65.00 to C$69.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, Cormark dropped their price objective on Bank of Nova Scotia from C$68.00 to C$65.00 and set a “market perform” rating on the stock in a report on Tuesday, August 20th. Ten research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$69.00.

Bank of Nova Scotia Price Performance

TSE:BNS opened at C$73.74 on Monday. The business’s 50-day moving average is C$70.99 and its two-hundred day moving average is C$66.42. The firm has a market capitalization of C$91.44 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a 12 month low of C$56.83 and a 12 month high of C$74.77.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its earnings results on Tuesday, August 27th. The bank reported C$1.63 EPS for the quarter, meeting the consensus estimate of C$1.63. The business had revenue of C$8.36 billion for the quarter, compared to the consensus estimate of C$8.50 billion. Bank of Nova Scotia had a return on equity of 9.49% and a net margin of 25.38%. Equities analysts anticipate that Bank of Nova Scotia will post 7.1286267 EPS for the current year.

Bank of Nova Scotia Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd were issued a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date was Wednesday, October 2nd. Bank of Nova Scotia’s dividend payout ratio is presently 74.26%.

About Bank of Nova Scotia

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.