Stifel Nicolaus Raises Bank of Nova Scotia (NYSE:BNS) Price Target to C$97.00

Bank of Nova Scotia (NYSE:BNSGet Rating) (TSE:BNS) had its price objective boosted by stock analysts at Stifel Nicolaus from C$95.00 to C$97.00 in a research report issued on Thursday, The Fly reports.

Several other research firms have also commented on BNS. TD Securities lifted their price objective on shares of Bank of Nova Scotia from C$88.00 to C$90.00 in a research note on Thursday. BMO Capital Markets boosted their target price on shares of Bank of Nova Scotia from C$93.00 to C$95.00 in a research note on Wednesday, March 2nd. Desjardins boosted their target price on shares of Bank of Nova Scotia from C$95.00 to C$99.00 in a research note on Thursday, March 3rd. StockNews.com initiated coverage on shares of Bank of Nova Scotia in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Bank of America lowered shares of Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 17th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $92.66.

NYSE BNS traded up $0.69 on Thursday, hitting $66.05. 98,806 shares of the stock were exchanged, 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 stock has a fifty day moving average price of $67.47 and a two-hundred day moving average price of $69.21. The firm has a market capitalization of $79.46 billion, a P/E 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:BNSGet Rating) (TSE:BNS) last posted its quarterly earnings data on Wednesday, May 25th. The bank reported $2.18 EPS for the quarter, topping the consensus estimate of $1.53 by $0.65. The company 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 quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.50 earnings per share. Sell-side analysts expect that Bank of Nova Scotia will post 6.53 earnings per share for the current fiscal year.

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

Read More

The Fly logo

Analyst Recommendations for Bank of Nova Scotia (NYSE:BNS)

Receive News & Ratings for Bank of Nova Scotia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Nova Scotia and related companies with MarketBeat.com's FREE daily email newsletter.