Bank of Nova Scotia (TSE:BNS) Sets New 52-Week High – Still a Buy?

Shares of The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$106.59 and last traded at C$105.82, with a volume of 937585 shares. The stock had previously closed at C$105.68.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BNS shares. Canadian Imperial Bank of Commerce raised their price objective on Bank of Nova Scotia from C$108.00 to C$109.00 in a report on Thursday, March 5th. Raymond James Financial raised their price objective on Bank of Nova Scotia from C$114.00 to C$117.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. UBS Group raised their price objective on Bank of Nova Scotia from C$118.00 to C$120.00 in a report on Wednesday, February 25th. Jefferies Financial Group raised their price objective on Bank of Nova Scotia from C$97.00 to C$104.00 in a report on Wednesday, February 11th. Finally, Canaccord Genuity Group cut Bank of Nova Scotia from a “buy” rating to a “hold” rating and decreased their price objective for the stock from C$118.00 to C$110.00 in a report on Monday, March 9th. One research analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$106.08.

Bank of Nova Scotia Stock Up 0.4%

The stock has a market cap of C$130.59 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 1.33 and a beta of 1.16. The stock has a fifty day moving average of C$99.79 and a two-hundred day moving average of C$98.78.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its earnings results on Tuesday, February 24th. The bank reported C$2.05 earnings per share for the quarter. Bank of Nova Scotia had a return on equity of 10.41% and a net margin of 14.45%.The firm had revenue of C$10.08 billion for the quarter. Equities research analysts anticipate that The Bank of Nova Scotia will post 7.1286267 EPS for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 28th were issued a $1.10 dividend. The ex-dividend date was Tuesday, April 7th. This represents a $4.40 dividend on an annualized basis and a yield of 4.1%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 64.69%.

About Bank of Nova Scotia

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It offers a range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. The bank’s international operations span numerous countries and are more concentrated in Central and South America.