Bank of Nova Scotia (BNS) PT Raised to C$89.00 at Scotiabank

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price objective raised by analysts at Scotiabank from C$86.00 to C$89.00 in a research report issued on Wednesday. The firm presently has an “outperform” rating on the bank’s stock. Scotiabank’s price target would suggest a potential upside of 16.04% from the company’s previous close.

A number of other research firms also recently commented on BNS. Keefe, Bruyette & Woods increased their price objective on shares of Bank of Nova Scotia from C$77.00 to C$85.00 in a research note on Tuesday, February 21st. CIBC increased their price objective on shares of Bank of Nova Scotia from C$82.00 to C$83.00 in a research note on Wednesday, February 15th. Barclays PLC increased their price objective on shares of Bank of Nova Scotia from C$68.00 to C$73.00 in a research note on Monday, February 13th. TD Securities downgraded shares of Bank of Nova Scotia from an “action list buy” rating to a “buy” rating and set a C$88.00 price objective for the company. in a research note on Wednesday, March 1st. Finally, Desjardins increased their price objective on shares of Bank of Nova Scotia from C$83.00 to C$86.00 and gave the stock a “buy” rating in a research note on Wednesday, March 1st. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of C$84.00.

Analyst Recommendations for Bank of Nova Scotia (TSE:BNS)

Shares of Bank of Nova Scotia (BNS) opened at 76.70 on Wednesday. The firm has a market cap of $92.73 billion and a PE ratio of 12.98. Bank of Nova Scotia has a 12 month low of $62.36 and a 12 month high of $82.30. The firm has a 50 day moving average price of $76.13 and a 200-day moving average price of $76.92.

Bank of Nova Scotia (TSE:BNS) last released its earnings results on Tuesday, May 30th. The bank reported $1.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.07. The firm had revenue of $6.58 billion for the quarter, compared to the consensus estimate of $6.61 billion. On average, analysts predict that Bank of Nova Scotia will post $6.47 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 27th. Investors of record on Tuesday, July 4th will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.96%.

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In related news, Director Brian J. Porter sold 40,000 shares of the firm’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of C$80.22, for a total value of C$3,208,800.00. Also, insider Andrew Branion sold 10,252 shares of the firm’s stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of C$78.66, for a total transaction of C$806,422.32. Insiders sold a total of 54,532 shares of company stock valued at $4,352,272 over the last quarter.

About Bank of Nova Scotia

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.

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