Bank of Nova Scotia (NYSE:BNS) PT Raised to C$91.00 at Credit Suisse Group

Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) had its price target hoisted by analysts at Credit Suisse Group from C$88.00 to C$91.00 in a research report issued to clients and investors on Thursday, The Fly reports.

Several other research analysts have also commented on the stock. BMO Capital Markets upped their price objective on shares of Bank of Nova Scotia from C$93.00 to C$95.00 in a report on Wednesday, March 2nd. Zacks Investment Research upgraded shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research note on Thursday, February 24th. CIBC downgraded shares of Bank of Nova Scotia from a “sector outperform” rating to a “neutral” rating in a research report on Monday, April 11th. Stifel Nicolaus cut their price objective on shares of Bank of Nova Scotia from C$107.00 to C$106.00 in a research report on Friday, April 8th. Finally, Desjardins raised their price target on shares of Bank of Nova Scotia from C$95.00 to C$99.00 in a report on Thursday, March 3rd. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Bank of Nova Scotia presently has a consensus rating of “Hold” and an average target price of $92.66.

BNS stock traded up $0.69 during mid-day trading on Thursday, hitting $66.05. The company had a trading volume of 98,806 shares, compared to its average volume of 1,810,531. The stock’s fifty day moving average price is $67.47 and its two-hundred day moving average price is $69.21. Bank of Nova Scotia has a 12 month low of $59.05 and a 12 month high of $74.86. 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 firm has a market cap of $79.46 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 1.59 and a beta of 0.94.

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

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Bank of Nova Scotia by 3.3% in the first quarter. Vanguard Group Inc. now owns 40,996,068 shares of the bank’s stock valued at $2,940,238,000 after buying an additional 1,320,299 shares during the last quarter. 1832 Asset Management L.P. boosted its position in Bank of Nova Scotia by 2.0% in the 1st quarter. 1832 Asset Management L.P. now owns 17,571,892 shares of the bank’s stock worth $1,243,830,000 after purchasing an additional 352,484 shares in the last quarter. Toronto Dominion Bank boosted its position in Bank of Nova Scotia by 6.7% in the 1st quarter. Toronto Dominion Bank now owns 16,218,985 shares of the bank’s stock worth $1,166,916,000 after purchasing an additional 1,011,387 shares in the last quarter. Norges Bank purchased a new position in shares of Bank of Nova Scotia during the 4th quarter valued at approximately $760,634,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Bank of Nova Scotia by 22.0% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,616,724 shares of the bank’s stock valued at $760,696,000 after buying an additional 1,914,499 shares in the last quarter. Hedge funds and other institutional investors own 45.01% of the company’s stock.

Bank of Nova Scotia Company Profile (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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