Bank of Nova Scotia (TSE:BNS) Stock Price Expected to Rise, Canadian Imperial Bank of Commerce Analyst Says

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price objective hoisted by investment analysts at Canadian Imperial Bank of Commerce from C$103.00 to C$108.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has a “neutral” rating on the bank’s stock. Canadian Imperial Bank of Commerce’s price target would indicate a potential upside of 4.69% from the company’s current price.

A number of other brokerages have also recently issued reports on BNS. Raymond James Financial set a C$108.00 price objective on shares of Bank of Nova Scotia and gave the stock an “outperform” rating in a report on Tuesday, November 25th. Canaccord Genuity Group increased their price target on Bank of Nova Scotia from C$106.00 to C$112.00 and gave the company a “buy” rating in a report on Thursday. 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. Desjardins lifted their target price on shares of Bank of Nova Scotia from C$104.00 to C$106.00 and gave the stock a “hold” rating in a report on Monday, February 9th. Finally, BMO Capital Markets upped their price target on shares of Bank of Nova Scotia from C$93.00 to C$98.00 in a report on Wednesday, December 17th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$98.17.

Bank of Nova Scotia Trading Down 0.1%

Shares of TSE:BNS opened at C$103.16 on Friday. The firm has a market cap of C$127.54 billion, a price-to-earnings ratio of 18.19, a P/E/G ratio of 1.33 and a beta of 1.33. Bank of Nova Scotia has a 1 year low of C$62.57 and a 1 year high of C$106.31. The business has a fifty day simple moving average of C$101.69 and a 200 day simple moving average of C$93.05.

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

Insider Buying and Selling

In other Bank of Nova Scotia news, insider Julie Walsh sold 3,716 shares of the business’s stock in a transaction 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. The trade was a 72.21% decrease in their ownership of the stock. Company insiders own 0.03% of the company’s stock.

About Bank of Nova Scotia

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.