The Bank of Nova Scotia (NYSE:BNS) Given Average Rating of “Moderate Buy” by Analysts

Shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) have been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $72.00.

A number of analysts recently commented on the company. Cibc World Mkts raised Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. Royal Bank of Canada boosted their price objective on Bank of Nova Scotia from $65.00 to $74.00 and gave the company a “sector perform” rating in a report on Wednesday. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, Bank of America raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 19th.

Bank of Nova Scotia Trading Down 0.0 %

NYSE:BNS opened at $55.77 on Friday. The firm has a fifty day simple moving average of $53.93 and a two-hundred day simple moving average of $49.98. Bank of Nova Scotia has a 12 month low of $43.67 and a 12 month high of $57.07. The stock has a market capitalization of $69.40 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 1.43 and a beta of 1.07. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Tuesday, January 7th will be given a $0.7535 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 5.40%. The ex-dividend date is Tuesday, January 7th. Bank of Nova Scotia’s payout ratio is currently 72.45%.

Hedge Funds Weigh In On Bank of Nova Scotia

A number of hedge funds have recently bought and sold shares of BNS. Sigma Planning Corp raised its holdings in shares of Bank of Nova Scotia by 1.9% in the third quarter. Sigma Planning Corp now owns 11,089 shares of the bank’s stock valued at $604,000 after purchasing an additional 210 shares during the last quarter. Signaturefd LLC grew its position in Bank of Nova Scotia by 1.2% in the 3rd quarter. Signaturefd LLC now owns 18,470 shares of the bank’s stock worth $1,006,000 after purchasing an additional 216 shares in the last quarter. Addison Advisors LLC increased its stake in Bank of Nova Scotia by 7.3% in the 3rd quarter. Addison Advisors LLC now owns 3,357 shares of the bank’s stock valued at $183,000 after buying an additional 227 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Bank of Nova Scotia by 11.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,713 shares of the bank’s stock worth $148,000 after buying an additional 288 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in shares of Bank of Nova Scotia by 1.1% in the 3rd quarter. Pinnacle Associates Ltd. now owns 27,800 shares of the bank’s stock worth $1,515,000 after buying an additional 300 shares during the last quarter. 49.13% of the stock is owned by hedge funds and other institutional investors.

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.