Royal Bank of Canada Forecasts Strong Price Appreciation for Bank of Nova Scotia (TSE:BNS) Stock

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price target lifted by Royal Bank of Canada from C$74.00 to C$83.00 in a research report released on Wednesday morning,BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the bank’s stock.

Other equities analysts have also recently issued research reports about the stock. Bank of America upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating and increased their price objective for the company from C$73.00 to C$90.00 in a research note on Tuesday, November 19th. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$71.00 to C$84.00 in a report on Tuesday, November 19th. Cibc World Mkts raised Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Friday, September 20th. National Bankshares boosted their price target on Bank of Nova Scotia from C$66.00 to C$78.00 in a research note on Wednesday, November 20th. Finally, CIBC increased their price objective on Bank of Nova Scotia from C$82.00 to C$84.00 in a research note on Tuesday, November 26th. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Bank of Nova Scotia currently has an average rating of “Moderate Buy” and a consensus price target of C$77.55.

Bank of Nova Scotia Trading Down 0.5 %

Shares of TSE BNS opened at C$74.33 on Wednesday. The firm has a market capitalization of C$92.17 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a one year low of C$60.68 and a one year high of C$80.14. The business has a fifty day simple moving average of C$76.88 and a 200 day simple moving average of C$70.41.

Bank of Nova Scotia Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th will be given a dividend of $1.06 per share. The ex-dividend date is Tuesday, January 7th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 5.70%. Bank of Nova Scotia’s payout ratio is 74.26%.

About Bank of Nova Scotia

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.