Bank of Nova Scotia (NYSE:BNS) Price Target Increased to C$91.00 by Analysts at National Bank Financial

Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) had its target price upped by research analysts at National Bank Financial from C$90.00 to C$91.00 in a report released on Thursday, The Fly reports.

Other analysts have also issued reports about the stock. Barclays raised their price objective on shares of Bank of Nova Scotia from C$97.00 to C$99.00 in a research note on Wednesday, March 2nd. Royal Bank of Canada raised their price objective on shares of Bank of Nova Scotia from C$93.00 to C$94.00 in a research note on Thursday. StockNews.com assumed coverage on shares of Bank of Nova Scotia in a research note on Thursday, March 31st. They set a “hold” rating for the company. TD Securities raised their price target on shares of Bank of Nova Scotia from C$88.00 to C$90.00 in a report on Thursday. Finally, CIBC downgraded shares of Bank of Nova Scotia from a “sector outperform” rating to a “neutral” rating in a report on Monday, April 11th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bank of Nova Scotia has a consensus rating of “Hold” and an average target price of $92.66.

Shares of Bank of Nova Scotia stock traded up $0.69 during trading on Thursday, hitting $66.05. The company’s stock had a trading volume of 98,806 shares, compared to its average volume of 1,810,531. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.07. The company has a fifty day simple moving average of $67.47 and a two-hundred day simple moving average of $69.21. The company has a market capitalization of $79.46 billion, a PE ratio of 10.40, a P/E/G ratio of 1.59 and a beta of 0.94. Bank of Nova Scotia has a 52 week low of $59.05 and a 52 week high of $74.86.

Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) last released its quarterly earnings data on Wednesday, May 25th. The bank reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.65. The business had revenue of $7.94 billion during the quarter, compared to analyst estimates of $7.87 billion. Bank of Nova Scotia had a net margin of 25.54% and a return on equity of 15.22%. Bank of Nova Scotia’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $1.50 EPS. As a group, analysts predict that Bank of Nova Scotia will post 6.53 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Golden State Equity Partners bought a new stake in Bank of Nova Scotia during the first quarter valued at approximately $266,000. Avalon Investment & Advisory boosted its position in shares of Bank of Nova Scotia by 59.6% in the first quarter. Avalon Investment & Advisory now owns 104,457 shares of the bank’s stock worth $7,492,000 after purchasing an additional 38,996 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Bank of Nova Scotia in the first quarter worth approximately $2,417,000. Eaton Vance Management boosted its position in shares of Bank of Nova Scotia by 776.2% in the first quarter. Eaton Vance Management now owns 60,692 shares of the bank’s stock worth $4,353,000 after purchasing an additional 53,765 shares during the period. Finally, EHP Funds Inc. bought a new position in shares of Bank of Nova Scotia in the first quarter worth approximately $258,000. Institutional investors own 45.01% of the company’s stock.

About Bank of Nova Scotia (Get Rating)

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 in four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.

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