Bank of Nova Scotia (BNS) Stock Rating Reaffirmed by Dundee Securities
Bank of Nova Scotia (TSE:BNS)‘s stock had its “buy” rating restated by stock analysts at Dundee Securities in a note issued to investors on Wednesday. They currently have a C$78.00 price target on the stock. Dundee Securities’ target price would indicate a potential upside of 9.70% from the company’s previous close.
Several other equities research analysts also recently weighed in on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Bank of Nova Scotia from C$60.00 to C$64.00 in a report on Thursday, August 18th. National Bank Financial upped their price objective on shares of Bank of Nova Scotia from C$64.00 to C$66.00 in a report on Wednesday, June 1st. Barclays PLC upped their price objective on shares of Bank of Nova Scotia from C$51.00 to C$55.00 in a report on Wednesday, June 1st. CIBC upped their price objective on shares of Bank of Nova Scotia from C$67.00 to C$72.00 in a report on Wednesday, August 31st. Finally, Citigroup Inc. upped their price objective on shares of Bank of Nova Scotia from C$70.00 to C$76.00 in a report on Wednesday, September 14th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of C$73.29.
Shares of Bank of Nova Scotia (TSE:BNS) opened at 71.10 on Wednesday. The stock’s 50 day moving average is $68.55 and its 200-day moving average is $65.14. Bank of Nova Scotia has a one year low of $51.17 and a one year high of $71.26. The stock has a market capitalization of $85.66 billion and a P/E ratio of 12.59.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 27th. Shareholders of record on Tuesday, October 4th will be paid a dividend of $0.74 per share. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.72. This represents a $2.96 dividend on an annualized basis and a yield of 4.16%.
In other Bank of Nova Scotia news, Director Brian J. Porter sold 25,176 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of C$70.17, for a total transaction of C$1,766,599.92.
About Bank of Nova Scotia
The Bank of Nova Scotia (Scotiabank or the Bank) is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and parts of Asia. The Company’s segments include Canadian Banking, International Banking, Global Banking and Markets (GBM), and Other.
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