Bank of Nova Scotia (NYSE:BNS – Get Free Report) (TSE:BNS) shares have received an average rating of “Reduce” from the five brokerages that currently cover the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation and four have given the company a hold recommendation. The average price target for the next twelve months among brokerages that have covered the stock in the last year is $68.00.
BNS has been the subject of several research reports lately. UBS Group initiated coverage on shares of Bank of Nova Scotia in a report on Tuesday. They gave the company a “neutral” rating. StockNews.com downgraded shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research report on Wednesday, May 29. Finally, Barclays initiated coverage on shares of Bank of Nova Scotia in a report on Wednesday, March 20. They issued an “underweight” rating and a $70.00 price target for the company.
Check out our latest stock analysis on BNS
Institutional investors comment on the Bank of Nova Scotia
A number of institutional investors and hedge funds have recently made changes to their positions in BNS. US Bancorp DE increased its position in Bank of Nova Scotia by 2.5% in the fourth quarter. US Bancorp DE now owns 68,826 shares of the bank’s stock worth $3,351,000 after acquiring an additional 1,660 shares during the same period. Wellington Management Group LLP increased its holdings in Bank of Nova Scotia by 1.5% in the fourth quarter. Wellington Management Group LLP now owns 2,280,248 shares of the bank’s stock worth $111,232,000 after acquiring an additional 33,490 shares during the same period. Vanguard Group Inc. increased its position in Bank of Nova Scotia by 1.6% in the third quarter. Vanguard Group Inc. now owns 45,691,098 shares of the bank’s stock valued at $2,083,057,000 after acquiring an additional 725,489 shares in the last quarter. Prudential PLC increased its stake in Bank of Nova Scotia by 141.7% in the fourth quarter. Prudential PLC now owns 38,482 shares of the bank’s stock valued at $1,873,000 after acquiring an additional 22,561 shares during the same period. Finally, Foguth Wealth Management LLC. acquired a new stake in Bank of Nova Scotia shares in the first quarter valued at about $905,000. 49.13% of the shares are held by hedge funds and other institutional investors.
Price development of the Bank of Nova Scotia
BNS shares opened at $45.42 on Tuesday. The company has a market cap of $55.85 billion, a P/E ratio of 10.23, a price-to-earnings-growth ratio of 1.70 and a beta of 1.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.03 and a quick ratio of 1.03. The company’s 50-day moving average price is $46.87 and its 200-day moving average price is $47.64. Bank of Nova Scotia has a 1-year low of $39.79 and a 1-year high of $51.98.
Bank of Nova Scotia (NYSE:BNS – Get Free Report) (TSE:BNS) last released its quarterly earnings results on Tuesday, May 28. The bank reported earnings per share of $1.16 for the quarter, beating the consensus estimate of $1.14 by $0.02. Bank of Nova Scotia had a net margin of 10.40% and a return on equity of 11.40%. The company had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $6.10 billion. On average, equities analysts forecast that Bank of Nova Scotia will post earnings per share of $4.82 for the current year.
Bank of Nova Scotia cuts dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Wednesday, July 3rd will receive a dividend of $0.769 per share. This represents an annualized dividend of $3.08 and a dividend yield of 6.77%. The ex-dividend date is Wednesday, July 3rd. Bank of Nova Scotia’s payout ratio is 70.72%.
About the Bank of Nova Scotia
(Get free report
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, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets business segments.
Further information
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