Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Friday.
Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada cut their price target on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating for the company in a report on Wednesday, February 26th. Bank of America downgraded Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research note on Monday, March 31st. Cibc World Mkts cut Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Finally, CIBC reissued a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $81.00.
Check Out Our Latest Research Report on Bank of Nova Scotia
Bank of Nova Scotia Stock Performance
Bank of Nova Scotia stock traded down $0.04 during midday trading on Friday, reaching $53.48. 1,726,990 shares of the stock traded hands, compared to its average volume of 1,701,079. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The firm has a fifty day moving average price of $49.10 and a two-hundred day moving average price of $51.06. The firm has a market cap of $66.62 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 1.16 and a beta of 1.11. Bank of Nova Scotia has a fifty-two week low of $43.68 and a fifty-two week high of $57.07.
Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last issued its quarterly earnings results on Tuesday, May 27th. The bank reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.14 by ($0.08). Bank of Nova Scotia had a return on equity of 11.56% and a net margin of 10.20%. The company had revenue of $6.59 billion during the quarter, compared to analyst estimates of $8.98 billion. During the same period in the prior year, the company posted $1.58 earnings per share. The company's revenue was up 8.8% on a year-over-year basis. On average, equities research analysts forecast that Bank of Nova Scotia will post 4.91 earnings per share for the current year.
Institutional Investors Weigh In On Bank of Nova Scotia
Several hedge funds have recently modified their holdings of BNS. Barclays PLC increased its holdings in Bank of Nova Scotia by 27.5% in the 3rd quarter. Barclays PLC now owns 214,957 shares of the bank's stock valued at $11,712,000 after buying an additional 46,421 shares during the period. Blue Trust Inc. increased its holdings in shares of Bank of Nova Scotia by 98.6% in the fourth quarter. Blue Trust Inc. now owns 3,134 shares of the bank's stock valued at $171,000 after purchasing an additional 1,556 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in shares of Bank of Nova Scotia during the fourth quarter valued at $292,000. Five Oceans Advisors boosted its stake in shares of Bank of Nova Scotia by 13.8% in the 4th quarter. Five Oceans Advisors now owns 4,330 shares of the bank's stock valued at $233,000 after purchasing an additional 525 shares during the last quarter. Finally, Silverlake Wealth Management LLC grew its holdings in Bank of Nova Scotia by 6.6% during the 4th quarter. Silverlake Wealth Management LLC now owns 8,504 shares of the bank's stock worth $457,000 after acquiring an additional 528 shares during the period. 49.13% of the stock is owned by institutional investors.
About Bank of Nova Scotia
(
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The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.
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