Bank of Nova Scotia (TSE:BNS) Sets New 1-Year Low – Here’s Why

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) shares reached a new 52-week low on Monday . The stock traded as low as C$0.01 and last traded at C$72.35, with a volume of 1103993 shares traded. The stock had previously closed at C$71.82.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BNS shares. Bank of America raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating and raised their price target for the company from C$73.00 to C$90.00 in a research note on Tuesday, November 19th. Barclays raised Bank of Nova Scotia from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 21st. TD Securities dropped their price target on Bank of Nova Scotia from C$82.00 to C$81.00 and set a “buy” rating for the company in a research report on Wednesday, December 4th. Royal Bank of Canada decreased their price objective on Bank of Nova Scotia from C$83.00 to C$81.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Finally, Accountability Research set a C$82.00 target price on shares of Bank of Nova Scotia and gave the stock a “buy” rating in a report on Thursday, January 9th. Eight analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of C$79.09.

Bank of Nova Scotia Price Performance

The stock has a market cap of C$87.79 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. The stock’s fifty day moving average is C$74.15 and its 200-day moving average is C$73.14.

Bank of Nova Scotia Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th were given a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 5.92%. The ex-dividend date was Tuesday, January 7th. Bank of Nova Scotia’s payout ratio is presently 67.00%.

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.