Bank of Nova Scotia (TSE:BNS) Sets New 52-Week High – What’s Next?

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) shares reached a new 52-week high during trading on Monday . The stock traded as high as C$80.14 and last traded at C$79.88, with a volume of 1256528 shares changing hands. The stock had previously closed at C$79.85.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BNS shares. 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. Royal Bank of Canada boosted their price objective on shares of Bank of Nova Scotia from C$62.00 to C$65.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 28th. Cibc World Mkts upgraded shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating and lifted their target price for the company from C$71.00 to C$84.00 in a report on Tuesday, November 19th. Finally, National Bankshares increased their price target on shares of Bank of Nova Scotia from C$66.00 to C$78.00 in a report on Wednesday, November 20th. Seven investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$76.00.

Bank of Nova Scotia Trading Down 0.1 %

The stock has a market capitalization of C$98.94 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. The business has a 50 day simple moving average of C$74.30 and a 200-day simple moving average of C$68.14.

Bank of Nova Scotia Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders 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 dividend yield of 5.31%. Bank of Nova Scotia’s payout ratio is 74.26%.

Bank of Nova Scotia Company Profile

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.