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Home›Global Wealth›Bank of Nova Scotia (NYSE:BNS) Receives Consensus “Hold” Recommendation From Brokerages

Bank of Nova Scotia (NYSE:BNS) Receives Consensus “Hold” Recommendation From Brokerages

By Clint Kennedy
May 28, 2022
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Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) has been assigned a consensus recommendation of “Hold” from the sixteen analysts who currently cover the stock, reports MarketBeat.com. Four equity research analysts rated the stock with a hold recommendation and three gave the company a buy recommendation. The 12-month average price target among brokers who have reported on the stock over the past year is $93.90.

A number of analysts have commented on the stock. Barclays raised its price target on Bank of Nova Scotia shares from C$97.00 to C$99.00 in a Wednesday, March 2 research note. Zacks Investment Research upgraded Bank of Nova Scotia shares from a “sell” rating to a “hold” rating in a Thursday, Feb. 24 research note. Desjardins cut its price target on Bank of Nova Scotia shares from C$96.00 to C$94.00 in a research note on Friday. TD Securities raised its price target on Bank of Nova Scotia shares from C$88.00 to C$90.00 in a research note on Thursday. Finally, CIBC downgraded Bank of Nova Scotia shares from a “sector outperform” rating to a “neutral” rating in a Monday, April 11 research note.

A number of large investors have recently changed their holdings of BNS. CWM LLC increased its holdings in Bank of Nova Scotia by 2,750.0% in the first quarter. CWM LLC now owns 342 shares of the bank worth $25,000 after buying 330 additional shares in the last quarter. JFS Wealth Advisors LLC increased its holdings in Bank of Nova Scotia by 178.0% in the first quarter. JFS Wealth Advisors LLC now owns 353 shares of the bank worth $25,000 after buying 226 additional shares in the last quarter. Hazlett Burt & Watson Inc. acquired a new stake in Bank of Nova Scotia in the first quarter valued at $28,000. West Bancorporation Inc. acquired a new stake in Bank of Nova Scotia in the fourth quarter valued at $33,000. Finally, Retirement Planning Co of New England Inc. acquired a new stake in Bank of Nova Scotia in the fourth quarter worth $42,000. Hedge funds and other institutional investors hold 45.01% of the company’s shares.

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NYSE: BNS opened at $67.06 on Friday. The Bank of Nova Scotia has a 12-month low of $59.05 and a 12-month high of $74.86. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt ratio of 0.44. The company has a 50-day moving average of $67.19 and a 200-day moving average of $69.21. The company has a market cap of $80.32 billion, a price-to-earnings ratio of 10.56, a growth price-to-earnings ratio of 1.59, and a beta of 0.94.

The Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) last released quarterly earnings data on Wednesday, May 25. The bank reported earnings per share of $2.18 for the quarter, beating the consensus estimate of $1.53 by $0.65. The Bank of Nova Scotia had a net margin of 25.54% and a return on equity of 15.22%. The company posted revenue of $7.94 billion in the quarter, versus analyst estimates of $7.87 billion. In the same quarter last year, the company posted EPS of $1.50. The company’s revenue for the quarter increased 2.7% year over year. On average, research analysts expect Bank of Nova Scotia to post earnings per share of 6.53 for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 27. Shareholders of record on Tuesday, July 5 will receive a dividend of $0.801 per share. This is a positive change from the Bank of Nova Scotia’s previous quarterly dividend of $0.79. The ex-dividend date is Friday, July 1. This represents an annualized dividend of $3.20 and a dividend yield of 4.78%. The Bank of Nova Scotia’s dividend payout ratio is 50.39%.

Bank of Nova Scotia Corporate Profile (Get a rating)

The Bank of Nova Scotia offers a variety of banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, as well as internationally. It operates through four segments: Canadian Banking, International Banking, Global Wealth Management and Global Banking and Markets.

See also

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

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

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