Bank of Nova Scotia (NYSE:BNS) Upgraded to "Outperform" at National Bank Financial

Key Points

• National Bank Financial upgraded Bank of Nova Scotia to “outperform” from “sector perform,” while the broader analyst consensus remains “Moderate Buy” with a $117 target price.
• Scotiabank’s latest reported quarter exceeded expectations, with EPS of $1.47 versus the $1.42 consensus and revenue of $7.24 billion versus $7.13 billion; revenue increased 8.3% year over year.
• The stock opened at $93.16 and is near its 52-week high of $93.44. Institutional investors and hedge funds own approximately 49.13% of the company.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS was upgraded by investment analysts at National Bank Financial from a "sector perform" rating to an "outperform" rating in a research note issued on Wednesday.

BNS has been the subject of a number of other reports. Royal Bank Of Canada boosted their price target on Bank of Nova Scotia from $98.00 to $117.00 and gave the company a "sector perform" rating in a report on Thursday, May 28th. TD Securities raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research note on Tuesday. Weiss Ratings lowered shares of Bank of Nova Scotia from a "buy (a-)" rating to a "buy (b+)" rating in a report on Tuesday, August 18th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Bank of Nova Scotia in a report on Friday, August 21st. They set an "outperform" rating on the stock. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $117.00.

Bank of Nova Scotia Stock Performance

NYSE BNS opened at $93.16 on Wednesday. The firm has a market capitalization of $113.55 billion, a P/E ratio of 17.78, a PEG ratio of 1.07 and a beta of 1.11. The stock has a 50-day simple moving average of $87.77 and a two-hundred day simple moving average of $79.82. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.04 and a current ratio of 1.04. Bank of Nova Scotia has a fifty-two week low of $58.77 and a fifty-two week high of $93.44.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last issued its earnings results on Wednesday, May 27th. The bank reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.05. The firm had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $7.13 billion. Bank of Nova Scotia had a return on equity of 13.16% and a net margin of 13.38%.The company's revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.52 earnings per share. On average, equities analysts forecast that Bank of Nova Scotia will post 6.03 earnings per share for the current year.

Institutional Trading of Bank of Nova Scotia

A number of hedge funds have recently bought and sold shares of the business. Prospera Financial Services Inc raised its stake in shares of Bank of Nova Scotia by 3.9% in the 4th quarter. Prospera Financial Services Inc now owns 4,625 shares of the bank's stock valued at $341,000 after acquiring an additional 173 shares during the period. Larson Financial Group LLC increased its holdings in Bank of Nova Scotia by 22.3% in the 4th quarter. Larson Financial Group LLC now owns 1,280 shares of the bank's stock valued at $94,000 after purchasing an additional 233 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Bank of Nova Scotia by 8.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,193 shares of the bank's stock valued at $235,000 after purchasing an additional 239 shares during the period. Parallel Advisors LLC lifted its stake in shares of Bank of Nova Scotia by 8.5% during the third quarter. Parallel Advisors LLC now owns 3,326 shares of the bank's stock worth $215,000 after purchasing an additional 261 shares in the last quarter. Finally, Greenspring Advisors LLC boosted its position in shares of Bank of Nova Scotia by 7.9% in the second quarter. Greenspring Advisors LLC now owns 3,778 shares of the bank's stock worth $328,000 after buying an additional 275 shares during the period. Institutional investors and hedge funds own 49.13% of the company's stock.

Trending Headlines about Bank of Nova Scotia

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

• Positive Sentiment: Strong Q3 earnings beat: Scotiabank reported quarterly profit of approximately C$2.95 billion, up from C$2.53 billion a year earlier. Reported EPS of C$1.64 exceeded the C$1.53 consensus estimate, while revenue rose 11.1% to C$7.52 billion, ahead of the C$7.11 billion forecast. Adjusted EPS was approximately C$2.28 versus expectations near C$2.10. Canada's BMO and Scotiabank Beat Earnings Targets as Trade War Escalates
• Positive Sentiment: Broad-based business momentum: Record results in global wealth management and global banking and markets, along with stronger capital-markets activity amid elevated volatility, helped drive the beat. Reports also cited growth across all major business lines and higher interest income. Scotiabank Earnings Lifted by Record Result in Wealth Management
• Positive Sentiment: Analyst upgrade: TD Securities raised BNS from “hold” to “buy,” reinforcing investor confidence in the bank’s earnings outlook after the quarterly beat.
• Positive Sentiment: Dividend support: Scotiabank declared a quarterly dividend of C$1.14 per share, equivalent to an annualized yield of about 4.9% based on the reported market price. The payout may appeal to income-focused investors. The Best Canadian Bank Stocks for Dividends in 2026
• Neutral Sentiment: Trade-war backdrop: Canadian banks have so far avoided significant damage from new U.S. tariffs affecting customers, and could find opportunities from changing cross-border business flows. However, prolonged trade tensions remain a potential risk to loan demand, credit quality, and economic growth. Bank of Nova Scotia: What Could Change the Story?
• Positive Sentiment: Additional product growth: The launch of a no-fee Visa business card offering 1% cash back could help Scotiabank attract Canadian small-business customers, though its near-term earnings impact is likely limited. Scotiabank Launches New No Fee Visa Credit Card

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.

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