Shares of 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 equities analysts have issued reports on BNS shares. Zacks Investment Research raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Monday, April 25th. BMO Capital Markets reaffirmed a “buy” rating on shares of Bank of Nova Scotia in a report on Wednesday, July 6th. Canaccord Genuity reaffirmed a “buy” rating on shares of Bank of Nova Scotia in a report on Tuesday, May 31st. Credit Suisse Group AG reaffirmed a “hold” rating and set a $74.00 price objective on shares of Bank of Nova Scotia in a report on Tuesday, May 31st. Finally, Deutsche Bank AG downgraded shares of Bank of Nova Scotia from a “buy” rating to a “hold” rating and cut their price objective for the stock from $50.00 to $35.00 in a report on Thursday, June 9th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $62.18.

The stock’s 50 day moving average price is $50.04 and its 200 day moving average price is $46.01. The stock has a market cap of $61.05 billion and a price-to-earnings ratio of 11.97.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Tuesday, July 5th will be given a dividend of $0.5547 per share. The ex-dividend date of this dividend is Thursday, June 30th. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.53. This represents a $2.22 annualized dividend and a dividend yield of 4.37%.

Several large investors have added to or reduced their stakes in the stock. US Bancorp DE boosted its stake in Bank of Nova Scotia by 9.1% in the fourth quarter. US Bancorp DE now owns 62,438 shares of the company’s stock valued at $2,524,000 after buying an additional 5,188 shares during the period. Comerica Bank boosted its stake in Bank of Nova Scotia by 2.5% in the fourth quarter. Comerica Bank now owns 64,629 shares of the company’s stock valued at $2,491,000 after buying an additional 1,580 shares during the period. Manitou Investment Management Ltd. boosted its stake in 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 valued at $6,084,000 after buying an additional 2,594 shares during the period. First Trust Advisors LP boosted its stake in Bank of Nova Scotia by 29.4% in the fourth quarter. First Trust Advisors LP now owns 154,029 shares of the company’s stock valued at $6,229,000 after buying an additional 35,012 shares during the period. Finally, Schroder Investment Management Group boosted its stake in 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 valued at $17,430,000 after buying an additional 42,701 shares during the period.

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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