The Bank of Nova Scotia (NYSE:BNS) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) have been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $81.00.

A number of analysts have recently issued reports on the stock. Cibc World Mkts downgraded shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Royal Bank of Canada dropped their price objective on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. Finally, CIBC restated a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th.

Institutional Trading of Bank of Nova Scotia

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp bought a new position in Bank of Nova Scotia during the fourth quarter worth $25,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Bank of Nova Scotia during the 4th quarter worth about $31,000. Allworth Financial LP boosted its position in shares of Bank of Nova Scotia by 121.1% during the 4th quarter. Allworth Financial LP now owns 639 shares of the bank’s stock worth $33,000 after purchasing an additional 350 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Bank of Nova Scotia by 1,588.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock valued at $47,000 after buying an additional 810 shares during the period. Finally, Fortitude Family Office LLC bought a new stake in Bank of Nova Scotia in the 4th quarter valued at about $73,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Up 0.7 %

NYSE BNS opened at $48.34 on Tuesday. Bank of Nova Scotia has a one year low of $43.68 and a one year high of $57.07. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $60.21 billion, a P/E ratio of 11.19, a P/E/G ratio of 1.16 and a beta of 1.11. The stock’s 50-day moving average is $50.10 and its 200-day moving average is $52.41.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.7415 per share. This represents a $2.97 annualized dividend and a dividend yield of 6.14%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia’s payout ratio is currently 82.77%.

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.