Canaccord Genuity Group Issues Positive Forecast for Bank of Nova Scotia (TSE:BNS) Stock Price

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price objective increased by Canaccord Genuity Group from C$106.00 to C$112.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the bank’s stock.

Other analysts have also recently issued reports about the stock. TD Securities raised their target price on shares of Bank of Nova Scotia from C$104.00 to C$112.00 in a report on Monday. Desjardins increased their price objective on Bank of Nova Scotia from C$104.00 to C$106.00 and gave the company a “hold” rating in a research report on Monday. Canadian Imperial Bank of Commerce raised their price objective on Bank of Nova Scotia from C$100.00 to C$103.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Barclays boosted their target price on Bank of Nova Scotia from C$95.00 to C$97.00 in a research report on Wednesday, December 3rd. Finally, Raymond James Financial set a C$108.00 target price on Bank of Nova Scotia and gave the company an “outperform” rating in a report on Tuesday, November 25th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$97.75.

Bank of Nova Scotia Trading Down 1.4%

Shares of Bank of Nova Scotia stock opened at C$103.28 on Thursday. The company’s 50-day moving average price is C$101.61 and its two-hundred day moving average price is C$92.76. Bank of Nova Scotia has a 52 week low of C$62.57 and a 52 week high of C$106.31. The stock has a market cap of C$127.69 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 1.33 and a beta of 1.33.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its quarterly earnings results on Tuesday, December 2nd. The bank reported C$1.93 earnings per share for the quarter. Bank of Nova Scotia had a net margin of 17.68% and a return on equity of 9.64%. The company had revenue of C$9.77 billion during the quarter. On average, equities analysts predict that Bank of Nova Scotia will post 7.1286267 EPS for the current fiscal year.

Insider Transactions at Bank of Nova Scotia

In related news, insider Julie Walsh sold 3,716 shares of Bank of Nova Scotia stock in a transaction on Monday, December 15th. The stock was sold at an average price of C$100.62, for a total transaction of C$373,903.92. Following the completion of the sale, the insider owned 1,430 shares of the company’s stock, valued at approximately C$143,886.60. This trade represents a 72.21% decrease in their ownership of the stock. Insiders own 0.03% of the company’s stock.

Bank of Nova Scotia Company Profile

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It offers a range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. The bank’s international operations span numerous countries and are more concentrated in Central and South America.