Bank of Nova Scotia (TSE:BNS) Hits New 12-Month High – Here’s What Happened

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) reached a new 52-week high during trading on Monday . The stock traded as high as C$79.28 and last traded at C$79.28, with a volume of 196250 shares trading hands. The stock had previously closed at C$78.91.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. UBS Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. TD Securities upped their price target on Bank of Nova Scotia from C$80.00 to C$82.00 in a research report on Friday, November 15th. National Bankshares lifted their target price on Bank of Nova Scotia from C$66.00 to C$78.00 in a report on Wednesday, November 20th. BMO Capital Markets lifted their target price on Bank of Nova Scotia from C$72.00 to C$84.00 in a research note on Monday, November 18th. Finally, 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. Seven research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$75.82.

Bank of Nova Scotia Stock Up 0.3 %

The business’s 50-day simple moving average is C$73.46 and its two-hundred day simple moving average is C$67.64. The firm has a market cap of C$98.13 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 1.33 and a beta of 0.97.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings results on Tuesday, August 27th. The bank reported C$1.63 earnings per share for the quarter, hitting the consensus estimate of C$1.63. Bank of Nova Scotia had a net margin of 25.38% and a return on equity of 9.49%. The firm had revenue of C$8.36 billion during the quarter, compared to the consensus estimate of C$8.50 billion. On average, analysts expect that The Bank of Nova Scotia will post 7.1286267 earnings per share for the current year.

Bank of Nova Scotia Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd were issued a dividend of $1.06 per share. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $4.24 dividend on an annualized basis and a yield of 5.36%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 74.26%.

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.