Bank of Nova Scotia (TSE:BNS) Upgraded by UBS Group to “Strong-Buy” Rating

UBS Group upgraded shares of Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) from a hold rating to a strong-buy rating in a research report released on Monday morning,Zacks.com reports.

Several other equities analysts have also commented on BNS. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating and upped their price target for the stock from C$71.00 to C$84.00 in a research report on Tuesday. Cormark reduced their target price on shares of Bank of Nova Scotia from C$68.00 to C$65.00 and set a “market perform” rating for the company in a research note on Tuesday, August 20th. Cibc World Mkts upgraded shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 20th. CIBC upgraded Bank of Nova Scotia from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from C$78.00 to C$82.00 in a research report on Friday, September 20th. Finally, Jefferies Financial Group increased their price objective on Bank of Nova Scotia from C$65.00 to C$69.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Bank of Nova Scotia currently has an average rating of “Moderate Buy” and a consensus price target of C$73.75.

Bank of Nova Scotia Stock Up 1.2 %

Shares of BNS stock opened at C$78.38 on Monday. The company has a market cap of C$97.19 billion, a P/E ratio of 13.73, a PEG ratio of 1.33 and a beta of 0.97. The business has a 50 day moving average of C$72.91 and a two-hundred day moving average of C$67.29. Bank of Nova Scotia has a 52 week low of C$56.83 and a 52 week high of C$78.58.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its quarterly earnings results on Tuesday, August 27th. The bank reported C$1.63 earnings per share (EPS) for the quarter, hitting 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%. Analysts expect that Bank of Nova Scotia will post 7.1286267 EPS for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Wednesday, October 2nd were issued a $1.06 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $4.24 annualized dividend and a dividend yield of 5.41%. Bank of Nova Scotia’s dividend payout ratio (DPR) is 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.