Bank of Nova Scotia (TSE:BNS) Upgraded to Hold at Barclays

Barclays upgraded shares of Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) from a strong sell rating to a hold rating in a research note published on Thursday,Zacks.com reports.

BNS has been the subject of several other reports. National Bankshares upped their price objective on Bank of Nova Scotia from C$66.00 to C$78.00 in a research report on Wednesday. Cormark decreased their price target 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. BMO Capital Markets increased their target price on shares of Bank of Nova Scotia from C$72.00 to C$84.00 in a report on Monday. CIBC upgraded shares of Bank of Nova Scotia from a “neutral” rating to an “outperform” rating and lifted their price target for the company from C$78.00 to C$82.00 in a research note on Friday, September 20th. Finally, TD Securities boosted their price target on shares of Bank of Nova Scotia from C$80.00 to C$82.00 in a research report on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$74.75.

Bank of Nova Scotia Price Performance

Shares of Bank of Nova Scotia stock opened at C$78.50 on Thursday. The company has a market capitalization of C$97.34 billion, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. The business has a 50-day moving average of C$73.29 and a two-hundred day moving average of C$67.50. Bank of Nova Scotia has a 1 year low of C$56.83 and a 1 year high of C$79.16.

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, hitting the consensus estimate of C$1.63. The firm 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 net margin of 25.38% and a return on equity of 9.49%. On average, equities analysts anticipate that Bank of Nova Scotia will post 7.1286267 EPS for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Wednesday, October 2nd were given a $1.06 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $4.24 dividend on an annualized basis and a dividend yield of 5.40%. Bank of Nova Scotia’s payout ratio is 74.26%.

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.