The Bank of Nova Scotia (NYSE:BNS) Given Consensus Recommendation of "Hold" by Analysts

Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) shares have received an average rating of “hold” from the fourteen market research firms currently covering the company, reports Marketbeat.com. Seven equity research analysts have rated the stock with a hold rating and one has given the company a buy rating. The average 12-month target price among brokers who have rated the stock over the past year is $89.50.

Several equity analysts recently commented on the company. Scotiabank has lowered its target price on Bank of Nova Scotia to $81.50 from $83.50 and gave the company a sector perform rating in a research note on Wednesday 30th November. StockNews.com began Wednesday, October 12th with a report on the Bank of Nova Scotia. You give the stock a “hold” rating.

Bank of Nova Scotia Institutional Trading

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BNS. Raymond James Financial Services Advisors Inc. increased its stake in Bank of Nova Scotia shares by 59.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 26,438 shares of the bank, valued at $1,896,000, after purchasing an additional 9,818 shares last quarter. Cambridge Investment Research Advisors Inc. increased its holding in Bank of Nova Scotia by 2.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,359 shares of the bank, valued at $1,317,000, after buying another 475 shares last quarter. Cetera Advisor Networks LLC acquired a new position in Bank of Nova Scotia valued at approximately $366,000 during the first quarter. Private Advisor Group LLC increased its stake in Bank of Nova Scotia by 56.3% during the first quarter. Private Advisor Group LLC now owns 7,272 shares of the bank, valued at $522,000, after purchasing an additional 2,619 shares last quarter. Finally, BlackRock Inc. increased its stake in Bank of Nova Scotia by 10.3% during the first quarter. BlackRock Inc. now owns 870,918 shares of the bank valued at $62,462,000 after purchasing an additional 81,002 shares last quarter. 45.19% of the shares are owned by institutional investors.

Bank of Nova Scotia trading up 0.6%

Shares of BNS opened at $54.44 on Thursday. The stock has a market cap of $64.87 billion, a P/E of 8.72, a price-to-earnings-to-growth ratio of 1.93, and a beta of 0.98. The company has a debt to equity ratio of 0.46, a quick ratio of 1.05 and a current ratio of 1.05. The Bank of Nova Scotia has a 52-week low of $45.26 and a 52-week high of $74.86. The company has a 50-day moving average price of $50.52 and a 200-day moving average price of $52.64.

The Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) last released its quarterly earnings data on Tuesday, November 29th. The bank reported $1.55 per share for the quarter, beating the consensus estimate of $1.49 by $0.06. The company had revenue of $5.73 billion for the quarter, compared to analyst estimates of $6.21 billion. Bank of Nova Scotia had a net margin of 21.26% and a return on equity of 15.54%. Equities analysts are predicting that the Bank of Nova Scotia will post 6.12 EPS for the current fiscal year.

Bank of Nova Scotia cuts dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 27th. Shareholders of record received a dividend of $0.756 on Wednesday, January 4th. That equates to an annualized dividend of $3.02 and a dividend yield of 5.55%. The ex-dividend date was Tuesday 3rd January. The Bank of Nova Scotia’s Dividend Payout Ratio (DPR) is currently 48.56%.

Bank of Nova Scotia Company Profile (Preserve Rating)

The Bank of Nova Scotia is engaged in the provision of financial products and services including personal, commercial, corporate and investment banking. It operates through the following segments: Canadian Banking, International Banking, Global Wealth Management, Global Banking and Markets and Other. The Other segment includes Group Treasury and smaller operating segments.