Bank of Nova Scotia (TSE:BNS) Reaches New 52-Week High at $70.42

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) shares hit a new 52-week high during trading on Thursday . The stock traded as high as C$70.42 and last traded at C$70.33, with a volume of 98687 shares traded. The stock had previously closed at C$70.22.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. CIBC raised their target price on shares of Bank of Nova Scotia from C$68.00 to C$78.00 in a research report on Friday, September 6th. National Bankshares decreased their price objective on Bank of Nova Scotia from C$67.00 to C$66.00 and set a “sector perform” rating for the company in a report on Wednesday, May 29th. TD Securities upped their target price on Bank of Nova Scotia from C$69.00 to C$71.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Royal Bank of Canada raised their price target on Bank of Nova Scotia from C$62.00 to C$65.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 28th. Finally, BMO Capital Markets lowered their price target on Bank of Nova Scotia from C$74.00 to C$72.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 28th. Twelve analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$67.92.

Bank of Nova Scotia Stock Performance

The business has a fifty day moving average of C$64.93 and a two-hundred day moving average of C$65.24. The firm has a market capitalization of C$87.69 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 1.33 and a beta of 0.96.

Bank of Nova Scotia Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd will be issued a $1.06 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $4.24 annualized dividend and a dividend yield of 6.00%. Bank of Nova Scotia’s dividend payout ratio is currently 74.26%.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.