Bank of Nova Scotia (TSE:BNS) Receives Consensus ‘Hold’ Rating From Analysts

Shares of Bank of Nova Scotia (TSE:BNS – Get Rating) (NYSE:BNS) received an average recommendation of “Hold” by the sixteen analysts who currently cover the company, reports MarketBeat Ratings. Six equity research analysts rated the stock with a hold recommendation and two gave the company a buy recommendation. The 1-year average target price among brokers who have issued quotes on the stock over the past year is C$85.69.

BNS has been the subject of a number of research reports. National Bankshares cut its price target on Bank of Nova Scotia shares from C$91.00 to C$90.00 in a report released Tuesday, August 16. BMO Capital Markets downgraded Bank of Nova Scotia shares from an “outperform” rating to a “market performer” rating in a Wednesday, Aug. 24, report. Canaccord Genuity Group cut its price target on Bank of Nova Scotia shares from C$89.00 to C$86.50 in a report released Wednesday, August 24. Royal Bank of Canada downgraded Bank of Nova Scotia shares from an “outperform” rating to an “sector performer” rating and lowered its price target for the stock by $94.00 CA at CA$83.00 in a Wednesday, August 24 report. Finally, TD Securities reduced its price target on Bank of Nova Scotia shares from C$84.00 to C$83.00 and set a “hold” rating for the company in a report released on Tuesday. Tuesday August 23.

Bank of Nova Scotia Price Performance

BNS shares opened at C$64.86 on Friday. The Bank of Nova Scotia has a 1-year low of C$64.26 and a 1-year high of C$95.00. The stock has a market capitalization of C$77.27 billion and a PE ratio of 7.76. The company has a fifty-day moving average price of C$73.45 and a 200-day moving average price of C$79.01.

Bank of Nova Scotia Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 27. Shareholders of record on Tuesday, October 4 will receive a dividend of $1.03 per share. The ex-dividend date is Monday, October 3. This represents an annualized dividend of $4.12 and a yield of 6.35%. The Bank of Nova Scotia payout ratio is currently 47.01%.

About The Bank of Nova Scotia

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The Bank of Nova Scotia offers a variety of banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, as well as internationally. It operates through four segments: Canadian Banking, International Banking, Global Wealth Management and Global Banking and Markets.

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Analyst Recommendations for Bank of Nova Scotia (TSE: BNS)

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