Bank of Nova Scotia (TSE:BNS) Price Target Increased to C$88.00 by Analysts at CIBC

Bank of Nova Scotia (TSE:BNSGet Rating) (NYSE:BNS) had its price objective lifted by CIBC from C$86.00 to C$88.00 in a report issued on Thursday morning, BayStreet.CA reports. The firm currently has a neutral rating on the bank’s stock.

A number of other equities research analysts have also recently commented on the company. CSFB raised their price target on Bank of Nova Scotia from C$88.00 to C$91.00 in a report on Thursday. Credit Suisse Group began coverage on Bank of Nova Scotia in a research note on Friday, May 20th. They set a hold rating and a C$88.00 target price on the stock. Barclays cut their price objective on shares of Bank of Nova Scotia from C$96.00 to C$84.00 and set an equal weight rating for the company in a report on Wednesday, May 11th. Stifel Nicolaus boosted their target price on Bank of Nova Scotia from C$95.00 to C$97.00 in a research report on Thursday. Finally, National Bankshares raised their price target on Bank of Nova Scotia from C$90.00 to C$91.00 and gave the company a sector perform rating in a report on Thursday. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of Nova Scotia currently has a consensus rating of Hold and an average target price of C$90.96.

Shares of TSE:BNS opened at C$84.33 on Thursday. The stock has a 50 day moving average of C$85.41 and a 200 day moving average of C$87.85. The company has a market cap of C$101.57 billion and a PE ratio of 10.57. Bank of Nova Scotia has a 12-month low of C$75.84 and a 12-month high of C$95.00.

Bank of Nova Scotia (TSE:BNSGet Rating) (NYSE:BNS) last posted its quarterly earnings results on Tuesday, March 1st. The bank reported C$2.15 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.07 by C$0.08. The firm had revenue of C$8.05 billion during the quarter, compared to the consensus estimate of C$7.79 billion. On average, research analysts predict that Bank of Nova Scotia will post 8.6800006 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 27th. Stockholders of record on Tuesday, July 5th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Monday, July 4th. This represents a $4.12 annualized dividend and a dividend yield of 4.89%. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $1.00. Bank of Nova Scotia’s payout ratio is currently 46.37%.

About Bank of Nova Scotia (Get Rating)

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 in four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.

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

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