According to Zacks, “Bank of Nova Scotia is one of North America’s premier financial institutions and Canada’s most international bank. They offer a diverse range of products and services including personal, commercial, corporate and investment banking. Scotiabank has built long-term value and recorded consistent earnings growth by building on its core strengths and by executing exceptionally well in its core businesses. These include Domestic Banking, Wealth Management, International Banking and Scotia Capital. “
Several other research firms also recently weighed in on BNS. CIBC raised shares of Bank of Nova Scotia from a sector perform rating to a sector outperform rating in a research note on Tuesday, March 7th. TD Securities cut shares of Bank of Nova Scotia to a buy rating in a report on Wednesday, March 1st. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Bank of Nova Scotia presently has a consensus rating of Buy and an average target price of $68.60.
Bank of Nova Scotia (NYSE:BNS) opened at 56.95 on Monday. The firm has a market cap of $68.85 billion, a price-to-earnings ratio of 12.94 and a beta of 1.30. Bank of Nova Scotia has a one year low of $47.29 and a one year high of $62.89. The stock has a 50 day moving average of $58.39 and a 200 day moving average of $57.03.
Bank of Nova Scotia (NYSE:BNS) last posted its quarterly earnings results on Tuesday, February 28th. The bank reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.57 by $0.38. Bank of Nova Scotia had a net margin of 20.78% and a return on equity of 14.36%. The company earned $6.87 billion during the quarter, compared to the consensus estimate of $6.89 billion. During the same period last year, the firm posted $1.43 earnings per share. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities research analysts predict that Bank of Nova Scotia will post $4.81 EPS for the current fiscal year.
WARNING: “Bank of Nova Scotia (BNS) Lowered to “Hold” at Zacks Investment Research” was first posted by sleekmoney and is owned by of sleekmoney. If you are viewing this report on another domain, it was illegally copied and reposted in violation of U.S. & international copyright & trademark legislation. The correct version of this report can be read at http://sleekmoney.com/bank-of-nova-scotia-bns-lowered-to-hold-at-zacks-investment-research/1752670.html.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 26th. Investors of record on Tuesday, April 4th will be issued a dividend of $0.5799 per share. The ex-dividend date of this dividend is Friday, March 31st. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.55. This represents a $2.32 annualized dividend and a yield of 4.07%. Bank of Nova Scotia’s payout ratio is 50.11%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Moors & Cabot Inc. boosted its position in Bank of Nova Scotia by 0.7% in the third quarter. Moors & Cabot Inc. now owns 8,490 shares of the bank’s stock valued at $451,000 after buying an additional 58 shares during the period. Wetherby Asset Management Inc. boosted its position in Bank of Nova Scotia by 2.3% in the fourth quarter. Wetherby Asset Management Inc. now owns 13,832 shares of the bank’s stock valued at $770,000 after buying an additional 309 shares during the period. Bollard Group LLC boosted its position in Bank of Nova Scotia by 0.9% in the third quarter. Bollard Group LLC now owns 37,313 shares of the bank’s stock valued at $1,977,000 after buying an additional 323 shares during the period. 1st Global Advisors Inc. boosted its position in Bank of Nova Scotia by 9.6% in the third quarter. 1st Global Advisors Inc. now owns 4,658 shares of the bank’s stock valued at $247,000 after buying an additional 407 shares during the period. Finally, Baird Financial Group Inc. boosted its position in Bank of Nova Scotia by 3.2% in the fourth quarter. Baird Financial Group Inc. now owns 14,479 shares of the bank’s stock valued at $806,000 after buying an additional 446 shares during the period. Institutional investors and hedge funds own 50.72% of the company’s stock.
Bank of Nova Scotia Company Profile
The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank offers a range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/bank-of-nova-scotia-bns-lowered-to-hold-at-zacks-investment-research/1752670.html
Receive News & Ratings for Bank of Nova Scotia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Nova Scotia and related companies with MarketBeat.com's FREE daily email newsletter.