The Bank of Nova Scotia Announces Quarterly Dividend of $1.06 (TSE:BNS)

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) declared a quarterly dividend on Wednesday, July 3rd, Zacks reports. Investors of record on Monday, July 29th will be paid a dividend of 1.06 per share by the bank on Monday, July 29th. This represents a $4.24 dividend on an annualized basis and a yield of 6.78%. The ex-dividend date of this dividend is Wednesday, July 3rd.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at C$62.58 on Tuesday. Bank of Nova Scotia has a fifty-two week low of C$55.20 and a fifty-two week high of C$70.40. The firm has a market cap of C$76.97 billion, a P/E ratio of 10.33, a P/E/G ratio of 1.33 and a beta of 0.98. The business’s 50 day moving average price is C$64.28 and its 200-day moving average price is C$64.62.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings results on Tuesday, May 28th. The bank reported C$1.58 earnings per share for the quarter, beating the consensus estimate of C$1.55 by C$0.03. Bank of Nova Scotia had a net margin of 26.41% and a return on equity of 9.89%. The business had revenue of C$8.35 billion for the quarter, compared to analysts’ expectations of C$8.32 billion. As a group, equities analysts predict that Bank of Nova Scotia will post 6.4780876 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BNS shares. Canaccord Genuity Group boosted their price target on shares of Bank of Nova Scotia from C$70.00 to C$71.00 and gave the company a “hold” rating in a research report on Wednesday, May 29th. BMO Capital Markets raised their target price on Bank of Nova Scotia from C$69.00 to C$74.00 in a research note on Friday, April 5th. TD Securities reduced their price target on Bank of Nova Scotia from C$72.00 to C$69.00 in a research note on Friday, May 10th. Jefferies Financial Group decreased their price objective on Bank of Nova Scotia from C$69.00 to C$64.00 and set a “hold” rating for the company in a report on Thursday, June 6th. Finally, National Bankshares dropped their target price on shares of Bank of Nova Scotia from C$67.00 to C$66.00 and set a “sector perform” rating on the stock in a report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating and twelve have given a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of C$66.68.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.