Barclays Forecasts Strong Price Appreciation for Bank of Nova Scotia (TSE:BNS) Stock

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price objective increased by Barclays from C$97.00 to C$106.00 in a report released on Thursday,BayStreet.CA reports. Barclays‘s price target would indicate a potential upside of 0.24% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Jefferies Financial Group lifted their target price on Bank of Nova Scotia from C$97.00 to C$104.00 in a report on Wednesday, February 11th. Desjardins lifted their price target on Bank of Nova Scotia from C$104.00 to C$106.00 and gave the stock a “hold” rating in a research note on Monday, February 9th. Canadian Imperial Bank of Commerce upped their price objective on shares of Bank of Nova Scotia from C$103.00 to C$108.00 and gave the company a “neutral” rating in a research note on Friday, February 13th. Canaccord Genuity Group lifted their target price on shares of Bank of Nova Scotia from C$106.00 to C$112.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. 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 research report on Wednesday, December 17th. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$101.17.

Bank of Nova Scotia Price Performance

TSE BNS opened at C$105.75 on Thursday. Bank of Nova Scotia has a 12 month low of C$62.57 and a 12 month high of C$106.31. The company has a market capitalization of C$130.74 billion, a P/E ratio of 18.65, a PEG ratio of 1.33 and a beta of 1.33. The company’s 50 day simple moving average is C$102.11 and its 200 day simple moving average is C$93.89.

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 (EPS) for the quarter. The firm had revenue of C$9.77 billion for the quarter. Bank of Nova Scotia had a net margin of 17.68% and a return on equity of 9.64%. On average, analysts anticipate that Bank of Nova Scotia will post 7.1286267 earnings per share for the current year.

Insider Activity at Bank of Nova Scotia

In related news, insider Julie Walsh sold 3,716 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of C$100.62, for a total transaction of C$373,903.92. Following the transaction, the insider directly 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. Corporate 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.