Bank of Nova Scotia (The) (NYSE:BNS) Receives $106.00 Consensus PT from Analysts

Shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) have been given an average rating of “Hold” by the six ratings firms that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $106.00.

Several equities research analysts have weighed in on BNS shares. TD Securities restated a “hold” rating on shares of Bank of Nova Scotia in a report on Tuesday, March 3rd. Canaccord Genuity Group cut shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. 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 price objective on shares of Bank of Nova Scotia from $97.00 to $106.00 and gave the company a “sector perform” rating in a report on Wednesday, February 25th.

Institutional Trading of Bank of Nova Scotia

Institutional investors have recently modified their holdings of the stock. Canerector Inc. grew its stake in shares of Bank of Nova Scotia by 8,899.0% during the 3rd quarter. Canerector Inc. now owns 26,997,000 shares of the bank’s stock worth $1,745,356,000 after purchasing an additional 26,697,000 shares during the period. Norges Bank purchased a new stake in shares of Bank of Nova Scotia in the fourth quarter valued at $1,368,456,000. FIL Ltd raised its stake in Bank of Nova Scotia by 49.5% in the 4th quarter. FIL Ltd now owns 16,489,540 shares of the bank’s stock valued at $1,216,157,000 after purchasing an additional 5,461,052 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Bank of Nova Scotia by 3,120.1% in the 4th quarter. AQR Capital Management LLC now owns 3,556,295 shares of the bank’s stock valued at $262,284,000 after purchasing an additional 3,445,856 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of Bank of Nova Scotia by 44.3% during the third quarter. CIBC Asset Management Inc now owns 9,800,305 shares of the bank’s stock worth $635,730,000 after buying an additional 3,007,407 shares in the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Down 0.5%

BNS opened at $67.35 on Friday. The firm has a market capitalization of $82.93 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 0.82 and a beta of 1.10. The company’s 50 day simple moving average is $73.53 and its two-hundred day simple moving average is $70.13. Bank of Nova Scotia has a 1-year low of $44.09 and a 1-year high of $78.28. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.05 and a quick ratio of 1.05.

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

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.