Bank of Nova Scotia (The) (BNS) To Go Ex-Dividend on January 6th

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) announced a quarterly dividend on Tuesday, December 2nd. Investors of record on Tuesday, January 6th will be paid a dividend of 1.10 per share by the bank on Wednesday, January 28th. This represents a c) annualized dividend and a yield of 5.9%. The ex-dividend date is Tuesday, January 6th.

Bank of Nova Scotia has increased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 14 years. Bank of Nova Scotia has a dividend payout ratio of 57.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bank of Nova Scotia to earn $5.66 per share next year, which means the company should continue to be able to cover its $3.14 annual dividend with an expected future payout ratio of 55.5%.

Bank of Nova Scotia Stock Performance

Shares of NYSE BNS opened at $74.49 on Friday. Bank of Nova Scotia has a 1 year low of $44.09 and a 1 year high of $74.53. The firm has a market cap of $92.07 billion, a P/E ratio of 18.53, a PEG ratio of 0.97 and a beta of 1.11. The stock has a fifty day moving average price of $69.69 and a two-hundred day moving average price of $63.09. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.04 and a current ratio of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Tuesday, December 2nd. The bank reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.06. Bank of Nova Scotia had a return on equity of 12.10% and a net margin of 10.60%.The business had revenue of $6.99 billion during the quarter, compared to analyst estimates of $6.85 billion. During the same quarter in the prior year, the firm posted $1.57 earnings per share. The company’s revenue was up 15.0% on a year-over-year basis. Research analysts forecast that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BNS. Raymond James Financial assumed coverage on shares of Bank of Nova Scotia in a report on Tuesday, November 25th. They issued an “outperform” rating for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bank of Nova Scotia in a report on Monday, December 29th. Finally, Royal Bank Of Canada raised their target price on shares of Bank of Nova Scotia from $86.00 to $97.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Bank of Nova Scotia has a consensus rating of “Hold” and a consensus price target of $97.00.

Bank of Nova Scotia Company Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada’s largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.

Scotiabank’s core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.