Bank of Nova Scotia (NYSE:BNS) gapped up before the market opened on Thursday . The stock had previously closed at $49.75, but opened at $50.05. Bank of Nova Scotia shares last traded at $50.87, with a volume of 339,985 shares trading hands.

A number of research firms have recently weighed in on BNS. Zacks Investment Research cut Bank of Nova Scotia from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $72.00 price objective on shares of Bank of Nova Scotia in a research note on Wednesday, June 1st. Deutsche Bank AG lowered shares of Bank of Nova Scotia from a “buy” rating to a “hold” rating and lowered their price objective for the company from $50.00 to $35.00 in a research note on Thursday, June 9th. BMO Capital Markets reiterated a “buy” rating on shares of Bank of Nova Scotia in a research note on Wednesday, July 6th. Finally, Macquarie lowered shares of Bank of Nova Scotia from an “outperform” rating to a “neutral” rating in a research note on Thursday, June 9th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Bank of Nova Scotia presently has a consensus rating of “Hold” and an average price target of $62.18.

The firm has a 50-day moving average of $50.01 and a 200-day moving average of $45.94. The stock has a market cap of $60.80 billion and a PE ratio of 11.81.

Bank of Nova Scotia (NYSE:BNS) last released its earnings results on Tuesday, May 31st. The company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.04. During the same quarter in the prior year, the company posted $1.42 earnings per share. On average, equities analysts anticipate that Bank of Nova Scotia will post $5.87 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Tuesday, July 5th will be given a $0.5547 dividend. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.53. This represents a $2.22 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date of this dividend is Thursday, June 30th.

Other hedge funds have recently made changes to their positions in the company. I.G. Investment Management LTD. boosted its stake in shares of Bank of Nova Scotia by 4.3% in the fourth quarter. I.G. Investment Management LTD. now owns 32,730,022 shares of the company’s stock worth $1,324,592,000 after buying an additional 1,340,656 shares in the last quarter. US Bancorp DE boosted its stake in shares of Bank of Nova Scotia by 9.1% in the fourth quarter. US Bancorp DE now owns 62,438 shares of the company’s stock worth $2,524,000 after buying an additional 5,188 shares in the last quarter. Manitou Investment Management Ltd. boosted its stake in shares of Bank of Nova Scotia by 1.8% in the fourth quarter. Manitou Investment Management Ltd. now owns 150,440 shares of the company’s stock worth $6,084,000 after buying an additional 2,594 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Bank of Nova Scotia by 15.9% in the fourth quarter. Schroder Investment Management Group now owns 311,422 shares of the company’s stock worth $17,430,000 after buying an additional 42,701 shares in the last quarter. Finally, Edge Asset Management Inc. boosted its stake in shares of Bank of Nova Scotia by 6.8% in the fourth quarter. Edge Asset Management Inc. now owns 1,221,857 shares of the company’s stock worth $49,412,000 after buying an additional 77,713 shares in the last quarter.

The Bank of Nova Scotia (the Bank) is a Canada-based diversified financial institution. The Bank offered a range of products and services, including retail, commercial, corporate and investment banking to more than 21 million customers in more than 55 countries around the world. The Bank has four business lines: Canadian Banking, International Banking, Scotia Capital and Global Wealth Management.

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