Shares of Bank of Nova Scotia (The) (NYSE:BNS - Get Free Report) TSE: BNS have received a consensus rating of "Moderate Buy" from the six ratings firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $117.00.
A number of research firms recently issued reports on BNS. Weiss Ratings downgraded Bank of Nova Scotia from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Tuesday, August 18th. Keefe, Bruyette & Woods initiated coverage on Bank of Nova Scotia in a research note on Friday. They issued an "outperform" rating for the company. Finally, Royal Bank Of Canada boosted their price target on Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 28th.
View Our Latest Analysis on BNS
Bank of Nova Scotia Stock Performance
Shares of BNS opened at $86.82 on Tuesday. The stock has a market capitalization of $105.82 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 1.08 and a beta of 1.11. Bank of Nova Scotia has a 12 month low of $57.23 and a 12 month high of $92.04. The firm has a fifty day simple moving average of $87.62 and a 200 day simple moving average of $79.69. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.69.
Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last issued its quarterly earnings results on Wednesday, May 27th. The bank reported $1.47 EPS for the quarter, topping the consensus estimate of $1.42 by $0.05. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. The firm had revenue of $7.24 billion for the quarter, compared to analysts' expectations of $7.13 billion. During the same period in the previous year, the firm posted $1.52 EPS. The company's revenue for the quarter was up 8.3% on a year-over-year basis. Research analysts forecast that Bank of Nova Scotia will post 6.03 EPS for the current fiscal year.
Institutional Trading of Bank of Nova Scotia
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Maseco LLP bought a new position in shares of Bank of Nova Scotia in the 1st quarter valued at about $30,000. Swiss RE Ltd. bought a new stake in shares of Bank of Nova Scotia in the 4th quarter valued at about $30,000. Brown Brothers Harriman & Co. bought a new stake in shares of Bank of Nova Scotia in the 4th quarter valued at about $34,000. Quarry LP acquired a new stake in Bank of Nova Scotia in the 3rd quarter valued at about $35,000. Finally, CoreCap Advisors LLC lifted its stake in Bank of Nova Scotia by 1,366.7% in the 2nd quarter. CoreCap Advisors LLC now owns 440 shares of the bank's stock valued at $38,000 after purchasing an additional 410 shares during the last quarter. 49.13% of the stock is owned by institutional investors.
Bank of Nova Scotia Company Profile
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Bank of Nova Scotia, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bank of Nova Scotia wasn't on the list.
While Bank of Nova Scotia currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
