Jefferies Financial Group Forecasts Strong Price Appreciation for Bank of Nova Scotia (TSE:BNS) Stock

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price upped by equities researchers at Jefferies Financial Group from C$97.00 to C$104.00 in a research note issued on Wednesday,BayStreet.CA reports. Jefferies Financial Group’s target price suggests a potential upside of 0.70% from the company’s previous close.

Several other analysts have also issued reports on BNS. Desjardins upped their price target on shares of Bank of Nova Scotia from C$104.00 to C$106.00 and gave the stock a “hold” rating in a research report on Monday. TD Securities upped their target price on shares of Bank of Nova Scotia from C$104.00 to C$112.00 in a report on Monday. Barclays raised their target price on shares of Bank of Nova Scotia from C$95.00 to C$97.00 in a research note on Wednesday, December 3rd. Canaccord Genuity Group boosted their price target on Bank of Nova Scotia from C$98.00 to C$100.00 in a research report on Wednesday, December 3rd. Finally, 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 company a “neutral” rating in a research report on Thursday, December 11th. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$97.75.

Bank of Nova Scotia Stock Performance

BNS opened at C$103.28 on Wednesday. The business’s 50-day simple moving average is C$101.61 and its 200 day simple moving average 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 firm has a market capitalization of C$127.69 billion, a PE ratio of 18.22, a PEG ratio of 1.33 and a beta of 1.33.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last posted 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 return on equity of 9.64% and a net margin of 17.68%.The firm had revenue of C$9.77 billion during the quarter. On average, research analysts forecast that Bank of Nova Scotia will post 7.1286267 earnings per share for the current year.

Insider Activity

In other news, insider Julie Walsh sold 3,716 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of C$100.62, for a total value of C$373,903.92. Following the transaction, the insider owned 1,430 shares of the company’s stock, valued at approximately C$143,886.60. This represents a 72.21% decrease in their ownership of the stock. 0.03% of the stock is currently owned by corporate insiders.

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.