Bank of Nova Scotia (TSE:BNS) Given New C$69.00 Price Target at TD Securities

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price target upped by TD Securities from C$68.00 to C$69.00 in a research report released on Thursday, BayStreet.CA reports.

A number of other equities analysts also recently commented on BNS. Canaccord Genuity Group upped their target price on Bank of Nova Scotia from C$70.00 to C$71.00 and gave the company a hold rating in a report on Wednesday, May 29th. UBS Group set a C$67.00 target price on shares of Bank of Nova Scotia and gave the company a neutral rating in a research note on Tuesday, July 2nd. Jefferies Financial Group decreased their price target on shares of Bank of Nova Scotia from C$69.00 to C$64.00 and set a hold rating for the company in a research note on Thursday, June 6th. CIBC raised their price objective on shares of Bank of Nova Scotia from C$64.00 to C$68.00 and gave the stock a neutral rating in a report on Wednesday, May 29th. Finally, National Bankshares reduced their target price on 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 investment analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of C$66.50.

Bank of Nova Scotia Price Performance

TSE BNS traded up C$0.55 during trading hours on Thursday, reaching C$63.67. 1,901,379 shares of the stock traded hands, compared to its average volume of 4,124,243. The stock has a 50 day simple moving average of C$63.47 and a two-hundred day simple moving average of C$64.66. Bank of Nova Scotia has a 1 year low of C$55.20 and a 1 year high of C$70.40. The company has a market cap of C$78.31 billion, a price-to-earnings ratio of 10.42, a price-to-earnings-growth ratio of 1.33 and a beta of 0.98.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its quarterly earnings data on Tuesday, May 28th. The bank reported C$1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of C$8.35 billion during the quarter, compared to analysts’ expectations of C$8.32 billion. On average, sell-side analysts forecast that Bank of Nova Scotia will post 6.4780876 EPS for the current fiscal year.

Bank of Nova Scotia Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 29th. Investors of record on Monday, July 29th were given a dividend of $1.06 per share. The ex-dividend date was Wednesday, July 3rd. This represents a $4.24 annualized dividend and a yield of 6.66%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 69.97%.

About Bank of Nova Scotia

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.