Bank of Nova Scotia (BNS) Sees Large Volume Increase
Bank of Nova Scotia (NYSE:BNS) shares saw strong trading volume on Wednesday . 534,431 shares traded hands during trading, a decline of 5% from the previous session’s volume of 565,296 shares.The stock last traded at $52.88 and had previously closed at $52.21.
BNS has been the topic of a number of recent analyst reports. Barclays PLC reaffirmed an “equal weight” rating and issued a $60.00 target price (up from $55.00) on shares of Bank of Nova Scotia in a research report on Sunday, August 21st. Desjardins reaffirmed a “buy” rating and issued a $71.00 target price (up from $70.00) on shares of Bank of Nova Scotia in a research report on Thursday, August 4th. BMO Capital Markets reaffirmed a “buy” rating on shares of Bank of Nova Scotia in a research report on Wednesday, July 6th. Zacks Investment Research lowered Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Finally, Deutsche Bank AG lowered Bank of Nova Scotia from a “buy” rating to a “hold” rating and cut their target price for the company from $50.00 to $35.00 in a research report on Thursday, June 9th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Bank of Nova Scotia currently has a consensus rating of “Hold” and an average target price of $62.00.
The company has a market capitalization of $64.98 billion and a PE ratio of 12.41. The company has a 50-day moving average price of $50.72 and a 200 day moving average price of $48.41.
Bank of Nova Scotia (NYSE:BNS) last announced its 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 posted $1.42 EPS. Analysts anticipate that Bank of Nova Scotia will post $4.53 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 27th. Investors of record on Tuesday, July 5th were paid a dividend of $0.5547 per share. The ex-dividend date was Thursday, June 30th. This represents a $2.22 annualized dividend and a yield of 4.17%. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.53.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.