Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) shares hit a new 52-week high on Monday . The company traded as high as $57.83 and last traded at $57.49, with a volume of 33430 shares. The stock had previously closed at $57.59.
A number of equities research analysts have recently weighed in on the stock. Credit Suisse Group boosted their price objective on shares of Bank of Nova Scotia from $73.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Zacks Investment Research lowered shares of Bank of Nova Scotia from a “buy” rating to a “hold” rating in a report on Thursday, August 29th. BMO Capital Markets lowered their price objective on shares of Bank of Nova Scotia from $80.00 to $78.00 and set an “outperform” rating for the company in a report on Wednesday, August 28th. Bank of America upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $52.00 to $62.00 in a report on Tuesday, September 24th. Finally, ValuEngine upgraded shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $74.14.
The company has a debt-to-equity ratio of 0.31, a current ratio of 1.06 and a quick ratio of 1.06. The firm’s 50 day moving average is $55.87 and its 200 day moving average is $53.83. The company has a market capitalization of $70.17 billion, a PE ratio of 10.55, a P/E/G ratio of 1.95 and a beta of 1.18.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 29th. Investors of record on Tuesday, October 1st will be paid a $0.682 dividend. This represents a $2.73 annualized dividend and a dividend yield of 4.76%. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Monday, September 30th. Bank of Nova Scotia’s payout ratio is presently 50.00%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Doyle Wealth Management purchased a new position in shares of Bank of Nova Scotia in the second quarter worth $31,000. Mcmillion Capital Management Inc. purchased a new position in Bank of Nova Scotia during the 2nd quarter valued at $46,000. HM Payson & Co. purchased a new position in Bank of Nova Scotia during the 2nd quarter valued at $51,000. LifePlan Financial Group Inc increased its position in Bank of Nova Scotia by 210.7% during the 2nd quarter. LifePlan Financial Group Inc now owns 1,165 shares of the bank’s stock valued at $63,000 after purchasing an additional 790 shares during the period. Finally, Advisory Services Network LLC increased its position in Bank of Nova Scotia by 1,556.2% during the 2nd quarter. Advisory Services Network LLC now owns 3,329 shares of the bank’s stock valued at $181,000 after purchasing an additional 3,128 shares during the period. 45.72% of the stock is currently owned by institutional investors.
About Bank of Nova Scotia (NYSE:BNS)
The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.
Read More: What is a back-end load?
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.