Bank of Nova Scotia (NYSE:BNS) Given “Hold” Rating at TD Securities

TD Securities reiterated their hold rating on shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in a research note published on Tuesday morning, Marketbeat Ratings reports.

Several other equities research analysts have also recently commented on the stock. Raymond James Financial initiated coverage on shares of Bank of Nova Scotia in a research report on Tuesday, November 25th. They issued an “outperform” rating on the stock. Weiss Ratings upgraded shares of Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, February 25th. Finally, Royal Bank Of Canada raised their target price on shares of Bank of Nova Scotia from $97.00 to $106.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Bank of Nova Scotia currently has an average rating of “Hold” and an average target price of $106.00.

Bank of Nova Scotia Stock Performance

BNS opened at $73.49 on Tuesday. The business has a 50 day moving average price of $74.80 and a two-hundred day moving average price of $68.92. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $90.60 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 0.91 and a beta of 1.10. Bank of Nova Scotia has a 1-year low of $44.09 and a 1-year high of $78.28.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings results on Tuesday, February 24th. The bank reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.06. The company had revenue of $7.40 billion for the quarter, compared to analysts’ expectations of $6.99 billion. Bank of Nova Scotia had a return on equity of 12.49% and a net margin of 12.40%.The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the firm earned $1.76 EPS. Research analysts predict that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Bank of Nova Scotia

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mondrian Investment Partners LTD purchased a new position in Bank of Nova Scotia during the 3rd quarter worth approximately $30,000. Swiss RE Ltd. acquired a new stake in shares of Bank of Nova Scotia in the fourth quarter worth $30,000. Cypress Capital Management LLC WY purchased a new position in shares of Bank of Nova Scotia during the second quarter valued at $33,000. Brown Brothers Harriman & Co. acquired a new position in Bank of Nova Scotia during the fourth quarter valued at $34,000. Finally, Quarry LP purchased a new stake in Bank of Nova Scotia in the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Company Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada’s largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.

Scotiabank’s core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.