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

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) announced a quarterly dividend on Wednesday, October 2nd, RTT News reports. Shareholders of record on Tuesday, October 29th will be paid a dividend of 1.06 per share by the bank on Tuesday, October 29th. This represents a $4.24 annualized dividend and a yield of 5.77%. The ex-dividend date of this dividend is Wednesday, October 2nd.

Bank of Nova Scotia Trading Down 0.4 %

Shares of Bank of Nova Scotia stock opened at C$73.54 on Monday. The business’s 50 day simple moving average is C$66.72 and its 200-day simple moving average is C$65.65. The stock has a market capitalization of C$91.19 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 1.33 and a beta of 0.96. Bank of Nova Scotia has a twelve month low of C$55.20 and a twelve month high of C$74.25.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its quarterly earnings results on Tuesday, August 27th. The bank reported C$1.63 earnings per share for the quarter, hitting analysts’ consensus estimates of C$1.63. The business had revenue of C$8.36 billion for the quarter, compared to analysts’ expectations of C$8.50 billion. Bank of Nova Scotia had a return on equity of 9.49% and a net margin of 25.38%. Sell-side analysts predict that Bank of Nova Scotia will post 7.0938104 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Cormark dropped their price target on Bank of Nova Scotia from C$68.00 to C$65.00 and set a “market perform” rating on the stock in a research report on Tuesday, August 20th. BMO Capital Markets decreased their price objective on Bank of Nova Scotia from C$74.00 to C$72.00 and set a “market perform” rating for the company in a report on Wednesday, August 28th. UBS Group set a C$67.00 price objective on Bank of Nova Scotia and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. CIBC raised Bank of Nova Scotia from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from C$78.00 to C$82.00 in a report on Friday, September 20th. Finally, TD Securities increased their price objective on Bank of Nova Scotia from C$69.00 to C$71.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Eleven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$68.25.

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.