Bank of Nova Scotia (TSE:BNS) Reaches New 12-Month High – What’s Next?

Shares of The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) hit a new 52-week high on Monday . The company traded as high as C$100.10 and last traded at C$98.87, with a volume of 1413950 shares trading hands. The stock had previously closed at C$99.26.

Wall Street Analysts Forecast Growth

BNS has been the subject of several research analyst reports. TD Securities raised their price objective on Bank of Nova Scotia from C$93.00 to C$99.00 in a research note on Monday, November 10th. National Bankshares set a C$81.00 price target on shares of Bank of Nova Scotia and gave the stock a “sector perform” rating in a report on Monday, September 22nd. Canaccord Genuity Group raised their price target on shares of Bank of Nova Scotia from C$98.00 to C$100.00 in a research report on Wednesday, December 3rd. CIBC lifted their price objective on shares of Bank of Nova Scotia from C$93.00 to C$100.00 in a research note on Wednesday, November 19th. Finally, Barclays upped their price objective on shares of Bank of Nova Scotia from C$95.00 to C$97.00 in a report on Wednesday, December 3rd. Four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of C$91.77.

Bank of Nova Scotia Price Performance

The stock has a fifty day simple moving average of C$93.28 and a 200-day simple moving average of C$84.15. The company has a market capitalization of C$124.81 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 1.33 and a beta of 1.35.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its quarterly earnings data on Tuesday, December 2nd. The bank reported C$1.93 EPS for the quarter. Bank of Nova Scotia had a net margin of 17.68% and a return on equity of 9.64%. The business had revenue of C$9.77 billion for the quarter. As a group, equities analysts expect that The Bank of Nova Scotia will post 7.1286267 EPS for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 29th. Stockholders of record on Wednesday, October 29th were given a dividend of $1.10 per share. The ex-dividend date was Tuesday, October 7th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.4%. Bank of Nova Scotia’s dividend payout ratio (DPR) is 76.19%.

Bank of Nova Scotia Company Profile

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It offers a range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.