Trade Report: The Bank of Nova Scotia (BNS) Stock Rating Reaffirmed by Barclays PLC

The Bank of Nova Scotia (BNS) Stock Rating Reaffirmed by Barclays PLC

Bank of Nova Scotia (NYSE:BNS)‘s stock had its “hold” rating restated by Barclays PLC in a research report issued on Thursday.

BNS has been the subject of several other research reports. Dundee Securities started coverage on shares of Bank of Nova Scotia in a research report on Wednesday, September 21st. They issued a “buy” rating for the company. Royal Bank Of Canada upped their price target on shares of Bank of Nova Scotia from $72.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, August 31st. Canaccord Genuity restated a “buy” rating and issued a $75.00 price target (up previously from $73.00) on shares of Bank of Nova Scotia in a research report on Thursday, September 1st. Scotiabank restated an “outperform” rating and issued a $76.00 price target (up previously from $70.00) on shares of Bank of Nova Scotia in a research report on Thursday, September 1st. Finally, BMO Capital Markets restated a “buy” rating on shares of Bank of Nova Scotia in a research report on Wednesday, July 6th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $68.09.

Shares of Bank of Nova Scotia (NYSE:BNS) opened at 53.85 on Thursday. Bank of Nova Scotia has a 1-year low of $35.01 and a 1-year high of $55.14. The firm has a 50-day moving average price of $53.29 and a 200-day moving average price of $51.22. The firm has a market capitalization of $64.88 billion, a PE ratio of 12.73 and a beta of 1.18.

Bank of Nova Scotia (NYSE:BNS) last issued its quarterly earnings results on Tuesday, August 30th. The company reported $1.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.48 by $0.30. Bank of Nova Scotia had a net margin of 20.84% and a return on equity of 14.04%. During the same quarter in the previous year, the company posted $1.45 earnings per share. On average, analysts forecast that Bank of Nova Scotia will post $4.40 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, October 27th. Investors of record on Tuesday, October 4th were paid a $0.5724 dividend. The ex-dividend date was Friday, September 30th. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.55. This represents a $2.29 dividend on an annualized basis and a yield of 4.25%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 52.45%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jarislowsky Fraser Ltd raised its position in Bank of Nova Scotia by 113.3% in the second quarter. Jarislowsky Fraser Ltd now owns 36,212,738 shares of the company’s stock worth $1,353,943,000 after buying an additional 19,238,416 shares during the last quarter. Mackenzie Financial Corp raised its position in Bank of Nova Scotia by 352.6% in the second quarter. Mackenzie Financial Corp now owns 6,812,047 shares of the company’s stock worth $333,858,000 after buying an additional 5,307,043 shares during the last quarter. FMR LLC raised its position in Bank of Nova Scotia by 50.2% in the second quarter. FMR LLC now owns 11,908,430 shares of the company’s stock worth $583,555,000 after buying an additional 3,980,450 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in Bank of Nova Scotia during the second quarter worth about $148,627,000. Finally, Vanguard Group Inc. raised its position in Bank of Nova Scotia by 14.1% in the second quarter. Vanguard Group Inc. now owns 23,454,437 shares of the company’s stock worth $1,149,501,000 after buying an additional 2,902,862 shares during the last quarter. Institutional investors and hedge funds own 49.39% of the company’s stock.

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