Bank of Nova Scotia (TSE:BNS) Stock Price Expected to Rise, TD Securities Analyst Says

Key Points

• TD Securities raised its price target on Bank of Nova Scotia to C$112 (from C$104), implying about a 6.62% upside, and several other brokers have similarly nudged up their targets recently.
• Despite those increases, the consensus analyst rating remains Hold with a consensus target of C$96.08, and analysts are split (three Buy, seven Hold).
• Shares traded at C$105.05 (near the 52‑week high of C$105.20); the stock has a market cap of C$129.87B, a P/E of 18.53 and a 50‑day/200‑day moving average of C$101.05/C$92.21.

Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS had its price objective boosted by analysts at TD Securities from C$104.00 to C$112.00 in a research report issued on Monday,BayStreet.CA reports. TD Securities' price target points to a potential upside of 6.62% from the stock's previous close.

BNS has been the topic of several other research reports. BMO Capital Markets lifted their target price on shares of Bank of Nova Scotia from C$93.00 to C$98.00 in a report on Wednesday, December 17th. Canaccord Genuity Group lifted their price target on Bank of Nova Scotia from C$98.00 to C$100.00 in a research note on Wednesday, December 3rd. Canadian Imperial Bank of Commerce upped their target price on Bank of Nova Scotia from C$100.00 to C$103.00 and gave the company a "neutral" rating in a research note on Thursday, December 11th. Barclays upped their target price on shares of Bank of Nova Scotia from C$95.00 to C$97.00 in a report on Wednesday, December 3rd. Finally, Jefferies Financial Group increased their price target on Bank of Nova Scotia from C$86.00 to C$96.00 in a research note on Tuesday, November 25th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of C$96.08.

Bank of Nova Scotia Price Performance

Shares of TSE:BNS traded up C$0.75 on Monday, reaching C$105.05. The company's stock had a trading volume of 1,164,207 shares, compared to its average volume of 4,714,569. Bank of Nova Scotia has a 52-week low of C$62.57 and a 52-week high of C$105.20. The stock has a market capitalization of C$129.87 billion, a P/E ratio of 18.53, a PEG ratio of 1.33 and a beta of 1.33. The stock's 50-day moving average is C$101.05 and its two-hundred day moving average is C$92.21.

Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS last released its quarterly earnings results on Tuesday, December 2nd. The bank reported C$1.93 earnings per share (EPS) for the quarter. Bank of Nova Scotia had a return on equity of 9.64% and a net margin of 17.68%.The firm had revenue of C$9.77 billion for the quarter. Equities analysts forecast that Bank of Nova Scotia will post 7.1286267 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bank of Nova Scotia news, insider Julie Walsh sold 3,716 shares of the firm's stock in a transaction on Monday, December 15th. The stock was sold at an average price of C$100.62, for a total value of C$373,903.92. Following the sale, the insider directly owned 1,430 shares in the company, valued at approximately C$143,886.60. This trade represents a 72.21% decrease in their ownership of the stock. 0.03% of the stock is owned by corporate insiders.

About Bank of Nova Scotia

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It offers a range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. The bank's international operations span numerous countries and are more concentrated in Central and South America.

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