Bank of Nova Scotia (TSE:BNS) Given New C$90.00 Price Target at CIBC

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price target hoisted by CIBC from C$77.00 to C$90.00 in a research report released on Wednesday,BayStreet.CA reports. CIBC currently has a neutral rating on the bank’s stock.

A number of other research firms also recently commented on BNS. Canaccord Genuity Group raised their price objective on shares of Bank of Nova Scotia from C$81.00 to C$85.00 in a report on Tuesday, July 22nd. Jefferies Financial Group raised their price objective on shares of Bank of Nova Scotia from C$75.00 to C$83.00 in a report on Wednesday, August 13th. TD Securities raised their price objective on shares of Bank of Nova Scotia from C$77.00 to C$79.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. Barclays lifted their price target on shares of Bank of Nova Scotia from C$78.00 to C$81.00 and gave the company an “equal weight” rating in a report on Thursday, August 14th. Finally, Desjardins lifted their price target on shares of Bank of Nova Scotia from C$77.00 to C$79.00 and gave the company a “hold” rating in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$80.62.

Bank of Nova Scotia Stock Performance

TSE:BNS opened at C$78.71 on Wednesday. The company has a 50-day moving average of C$75.99 and a 200-day moving average of C$72.00. The company has a market capitalization of C$96.45 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a 52 week low of C$62.57 and a 52 week high of C$80.14.

Bank of Nova Scotia Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 29th. Shareholders of record on Tuesday, July 29th were paid a $1.10 dividend. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $1.06. This represents a $4.40 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend was Wednesday, July 2nd. Bank of Nova Scotia’s payout ratio is presently 67.00%.

About Bank of Nova Scotia

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.