Investment analysts at Dundee Securities started coverage on shares of Bank of Nova Scotia (NYSE:BNS) in a report issued on Wednesday. The brokerage set a “buy” rating on the stock.

A number of other equities analysts also recently weighed in on BNS. RBC Capital Markets reaffirmed an “outperform” rating and set a $77.00 target price (up previously from $72.00) on shares of Bank of Nova Scotia in a research note on Wednesday, August 31st. TD Securities reaffirmed a “buy” rating and set a $74.00 target price (up previously from $70.00) on shares of Bank of Nova Scotia in a research note on Wednesday, August 31st. Royal Bank Of Canada raised their target price on shares of Bank of Nova Scotia from $72.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, August 31st. TheStreet raised shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research note on Tuesday, August 30th. Finally, BMO Capital Markets reaffirmed a “buy” rating on shares of Bank of Nova Scotia in a research note on Thursday, September 1st. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $68.09.

Bank of Nova Scotia (NYSE:BNS) opened at 54.44 on Wednesday. The company has a 50-day moving average price of $52.63 and a 200 day moving average price of $50.18. The stock has a market cap of $65.59 billion, a P/E ratio of 12.68 and a beta of 1.19. Bank of Nova Scotia has a 1-year low of $35.01 and a 1-year high of $55.14.

Bank of Nova Scotia (NYSE:BNS) last released its quarterly earnings results on Tuesday, August 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.48 by $0.30. Bank of Nova Scotia had a return on equity of 14.04% and a net margin of 20.84%. During the same quarter in the prior year, the company earned $1.45 earnings per share. Equities analysts expect that Bank of Nova Scotia will post $4.50 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 27th. Investors of record on Tuesday, October 4th will be issued a $0.5724 dividend. The ex-dividend date is Friday, September 30th. This represents a $2.29 annualized dividend and a yield of 4.21%. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.55. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 51.98%.

A number of large investors have recently modified their holdings of the company. CIBC World Markets Inc. boosted its stake in shares of Bank of Nova Scotia by 1.5% in the second quarter. CIBC World Markets Inc. now owns 51,002,714 shares of the company’s stock valued at $2,499,643,000 after buying an additional 777,443 shares in the last quarter. Jarislowsky Fraser Ltd boosted its stake in shares of Bank of Nova Scotia by 113.3% in the second quarter. Jarislowsky Fraser Ltd now owns 36,212,738 shares of the company’s stock valued at $1,353,943,000 after buying an additional 19,238,416 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Bank of Nova Scotia by 14.1% in the second quarter. Vanguard Group Inc. now owns 23,454,437 shares of the company’s stock valued at $1,149,501,000 after buying an additional 2,902,862 shares in the last quarter. FMR LLC boosted its stake in shares of Bank of Nova Scotia by 50.2% in the second quarter. FMR LLC now owns 11,908,430 shares of the company’s stock valued at $583,555,000 after buying an additional 3,980,450 shares in the last quarter. Finally, Guardian Capital LP boosted its stake in shares of Bank of Nova Scotia by 9.3% in the second quarter. Guardian Capital LP now owns 8,265,261 shares of the company’s stock valued at $402,240,000 after buying an additional 704,865 shares in the last quarter. Institutional investors own 49.26% of the company’s stock.

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.

5 Day Chart for NYSE:BNS

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