Bank of Nova Scotia (BNS) Sees Large Volume Increase
Shares of Bank of Nova Scotia (NYSE:BNS) saw strong trading volume on Wednesday . 534,431 shares traded hands during mid-day 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.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Wednesday, May 4th. Macquarie downgraded Bank of Nova Scotia from an “outperform” rating to a “neutral” rating in a report on Thursday, June 9th. Credit Suisse Group AG reiterated a “hold” rating and issued a $74.00 price objective on shares of Bank of Nova Scotia in a report on Tuesday, May 31st. BMO Capital Markets reiterated a “buy” rating on shares of Bank of Nova Scotia in a report on Wednesday, July 6th. Finally, Deutsche Bank AG downgraded Bank of Nova Scotia from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $50.00 to $35.00 in a report on Thursday, June 9th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $62.00.
The company’s 50 day moving average is $50.47 and its 200-day moving average is $48.34. The firm has a market cap of $63.82 billion and a P/E ratio of 12.36.
Bank of Nova Scotia (NYSE:BNS) last announced its quarterly earnings data 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 period last year, the business earned $1.42 earnings per share. Equities analysts predict that Bank of Nova Scotia will post $4.56 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 27th. Stockholders of record on Tuesday, July 5th were issued a $0.5547 dividend. This represents a $2.22 dividend on an annualized basis and a dividend yield of 4.18%. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, June 30th.
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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