Shares of Scotiabank (NYSE:BNS) (TSE:BNS) have been given a consensus rating of “Buy” by the ten analysts that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $90.00.
A number of equities research analysts recently commented on BNS shares. ValuEngine cut shares of Scotiabank from a “buy” rating to a “hold” rating in a research report on Tuesday, April 3rd. Zacks Investment Research cut shares of Scotiabank from a “buy” rating to a “hold” rating in a research report on Friday, February 9th.
A number of large investors have recently bought and sold shares of BNS. Merit Financial Group LLC acquired a new position in Scotiabank during the 4th quarter valued at approximately $347,000. Callahan Advisors LLC increased its stake in Scotiabank by 6.5% during the 4th quarter. Callahan Advisors LLC now owns 13,371 shares of the bank’s stock valued at $863,000 after purchasing an additional 811 shares in the last quarter. Advisor Partners LLC increased its stake in Scotiabank by 60.0% during the 4th quarter. Advisor Partners LLC now owns 6,065 shares of the bank’s stock valued at $398,000 after purchasing an additional 2,274 shares in the last quarter. Wells Fargo & Company MN increased its stake in Scotiabank by 4.8% during the 4th quarter. Wells Fargo & Company MN now owns 632,251 shares of the bank’s stock valued at $40,799,000 after purchasing an additional 29,126 shares in the last quarter. Finally, Rathbone Brothers plc increased its stake in Scotiabank by 1.1% during the 4th quarter. Rathbone Brothers plc now owns 261,351 shares of the bank’s stock valued at $16,920,000 after purchasing an additional 2,874 shares in the last quarter. 47.37% of the stock is owned by institutional investors.
Shares of BNS traded down $0.60 during mid-day trading on Monday, hitting $62.35. The company’s stock had a trading volume of 657,904 shares, compared to its average volume of 602,347. Scotiabank has a 52-week low of $54.91 and a 52-week high of $66.78. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $75.45 billion, a PE ratio of 11.90, a PEG ratio of 1.53 and a beta of 1.28.
Scotiabank (NYSE:BNS) (TSE:BNS) last posted its earnings results on Tuesday, February 27th. The bank reported $1.37 EPS for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.07. Scotiabank had a net margin of 22.69% and a return on equity of 14.78%. The company had revenue of $7.09 billion during the quarter, compared to analysts’ expectations of $7.01 billion. During the same quarter in the prior year, the company posted $1.57 earnings per share. Scotiabank’s revenue for the quarter was up 3.2% compared to the same quarter last year. equities research analysts forecast that Scotiabank will post 5.52 EPS for the current year.
Scotiabank announced that its board has approved a share buyback plan on Monday, February 12th that permits the company to buyback shares. This buyback authorization permits the bank to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 26th. Investors of record on Tuesday, April 3rd were given a dividend of $0.6454 per share. This is a boost from Scotiabank’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, April 2nd. This represents a $2.58 dividend on an annualized basis and a yield of 4.14%. Scotiabank’s dividend payout ratio is presently 48.47%.
The Bank of Nova Scotia provides various financial services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. It offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.
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