Bank of Nova Scotia (The) (NYSE:BNS) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts give Scotiabank a consensus rating of "Hold" (three holds, two buys) with an average 12‑month price target of $106.
• The bank beat expectations in its latest quarter with EPS $1.48 (vs. $1.42 est.) and revenue $7.40B (vs. $6.99B), though EPS declined from $1.76 a year earlier.
• Shares trade around $75.87 with a market cap of about $93.2B, a P/E of 15.8 and a 52‑week range of $47.69–$78.28, leaving a notable gap to the $106 analyst target.

Shares of Bank of Nova Scotia (The) (NYSE:BNS - Get Free Report) TSE: BNS have earned a consensus rating of "Hold" from the five analysts that are presently covering the firm, MarketBeat Ratings reports. Three equities 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 brokerages that have issued a report on the stock in the last year is $106.00.

A number of equities analysts recently issued reports on BNS shares. TD Securities reissued a "hold" rating on shares of Bank of Nova Scotia in a report on Tuesday, March 3rd. Royal Bank Of Canada raised their price objective 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. Weiss Ratings raised shares of Bank of Nova Scotia from a "hold (c+)" rating to a "buy (b)" rating in a report on Wednesday, February 25th. Finally, Canaccord Genuity Group downgraded shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a report on Monday, March 9th.

Hedge Funds Weigh In On Bank of Nova Scotia

A number of institutional investors and hedge funds have recently made changes to their positions in BNS. Mondrian Investment Partners LTD purchased a new position in shares of Bank of Nova Scotia in the third quarter worth approximately $30,000. Maseco LLP purchased a new position in Bank of Nova Scotia during the first quarter valued at approximately $30,000. Swiss RE Ltd. purchased a new position in Bank of Nova Scotia during the fourth quarter valued at approximately $30,000. Brown Brothers Harriman & Co. purchased a new position in Bank of Nova Scotia during the fourth quarter valued at approximately $34,000. Finally, Quarry LP purchased a new position in Bank of Nova Scotia during the third quarter valued at approximately $35,000. Hedge funds and other institutional investors own 49.13% of the company's stock.

Bank of Nova Scotia Stock Performance

Shares of NYSE BNS opened at $75.87 on Wednesday. The firm's 50-day moving average price is $72.68 and its 200-day moving average price is $71.05. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.68. The company has a market cap of $93.24 billion, a PE ratio of 15.77, a PEG ratio of 0.93 and a beta of 1.10. Bank of Nova Scotia has a 52-week low of $47.69 and a 52-week high of $78.28.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last posted its quarterly earnings data on Tuesday, February 24th. The bank reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.06. The company had revenue of $7.40 billion for the quarter, compared to the consensus estimate of $6.99 billion. Bank of Nova Scotia had a net margin of 12.40% and a return on equity of 12.49%. The firm's revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.76 earnings per share. As a group, analysts anticipate that Bank of Nova Scotia will post 6.04 EPS for the current year.

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.

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