Royal Bank Of Canada Issues Positive Forecast for Bank of Nova Scotia (NYSE:BNS) Stock Price

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) had its price target lifted by Royal Bank Of Canada from $97.00 to $106.00 in a report published on Wednesday,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the bank’s stock.

Other equities analysts have also issued reports about the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bank of Nova Scotia in a report on Monday, December 29th. Raymond James Financial started coverage on shares of Bank of Nova Scotia in a report on Tuesday, November 25th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $106.00.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $75.88 on Wednesday. Bank of Nova Scotia has a 52-week low of $44.09 and a 52-week high of $78.28. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.70. The stock has a market cap of $93.54 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 1.01 and a beta of 1.11. The business has a 50-day simple moving average of $74.59 and a 200-day simple moving average of $68.31.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings results on Tuesday, February 24th. The bank reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.06. Bank of Nova Scotia had a return on equity of 12.60% and a net margin of 12.40%.The company 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 quarterly revenue was up 2.9% on a year-over-year basis. On average, equities analysts expect that Bank of Nova Scotia will post 4.91 EPS for the current year.

Bank of Nova Scotia Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 7th will be given a $1.10 dividend. The ex-dividend date is Tuesday, April 7th. This represents a $4.40 annualized dividend and a dividend yield of 5.8%. Bank of Nova Scotia’s dividend payout ratio (DPR) is 79.85%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mondrian Investment Partners LTD purchased a new stake in Bank of Nova Scotia during the 3rd quarter worth approximately $30,000. Swiss RE Ltd. acquired a new position in Bank of Nova Scotia in the 4th quarter valued at $30,000. Cypress Capital Management LLC WY acquired a new position in Bank of Nova Scotia in the 2nd quarter valued at $33,000. Brown Brothers Harriman & Co. purchased a new position in Bank of Nova Scotia in the 4th quarter valued at $34,000. Finally, Quarry LP acquired a new stake in Bank of Nova Scotia during the 3rd quarter worth $35,000. 49.13% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Bank of Nova Scotia

Here are the key news stories impacting Bank of Nova Scotia this week:

• Positive Sentiment: Sharp decline in short interest — Short interest fell ~27.9% month-over-month to 5.42M shares (0.4% of float) with a days-to-cover of ~3.2, which can reduce downward pressure from short sellers and supports near-term positioning.
• Positive Sentiment: Analyst price-target bump — Royal Bank of Canada raised its target from $97 to $106 (sector perform), implying material upside vs. the current price; analyst optimism can lift sentiment and attract buyers. RBC raises PT
• Positive Sentiment: Reported quarter showed revenue strength and margin/ROE improvement — Company filings and summaries show ~ $7.40B revenue and improvements in ROE/net margin; some outlets report an EPS beat vs. consensus, which supports the fundamental case. Quarterly results
• Neutral Sentiment: Earnings call details / transcript — The full Q1 call and slide deck provide color on NIMs, credit trends and guidance; investors should review management’s commentary for sustainability of trends. Earnings call transcript
• Neutral Sentiment: Mixed reporting on EPS — Different outlets have reported slightly different EPS figures (some noting a small beat, others a miss); this discrepancy has created some short-term noise while investors parse GAAP vs. adjusted figures. Earnings presentation
• Negative Sentiment: Valuation concerns — Independent analysis flags that forward P/E and P/B are meaningfully above cyclical averages (~23% above), and that the ~4.3% dividend offers limited protection if macro or credit conditions deteriorate; stretched multiples could cap further upside. Valuation analysis

About Bank of Nova Scotia

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.