FY2025 EPS Estimates for Bank of Nova Scotia Cut by Cormark

The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS - Stock analysts at Cormark cut their FY2025 earnings estimates for shares of Bank of Nova Scotia in a research note issued to investors on Tuesday, May 27th. Cormark analyst L. Persaud now expects that the bank will earn $4.99 per share for the year, down from their prior forecast of $5.00. The consensus estimate for Bank of Nova Scotia's current full-year earnings is $4.91 per share.

A number of other brokerages also recently issued reports on BNS. Cibc World Mkts downgraded shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Wall Street Zen upgraded shares of Bank of Nova Scotia from a "sell" rating to a "hold" rating in a research report on Friday. CIBC restated a "neutral" rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Royal Bank of Canada lowered their price objective 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. Finally, Bank of America cut Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research note on Monday, March 31st. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $81.00.

Bank of Nova Scotia Trading Up 0.1%

Shares of BNS stock traded up $0.05 during trading hours on Friday, reaching $53.55. The company's stock had a trading volume of 455,420 shares, compared to its average volume of 1,696,656. The stock has a market capitalization of $66.70 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.16 and a beta of 1.13. The firm's fifty day simple moving average is $49.20 and its 200 day simple moving average is $51.05. Bank of Nova Scotia has a one year low of $43.68 and a one year high of $57.07. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last announced its quarterly earnings data on Tuesday, May 27th. The bank reported $1.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.14 by ($0.08). Bank of Nova Scotia had a net margin of 10.20% and a return on equity of 11.56%. The company had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $8.98 billion. During the same period last year, the business posted $1.58 earnings per share. The firm's quarterly revenue was up 8.8% compared to the same quarter last year.

Bank of Nova Scotia Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 2nd will be given a dividend of $0.7996 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $3.20 annualized dividend and a dividend yield of 5.97%. This is a positive change from Bank of Nova Scotia's previous quarterly dividend of $0.74. Bank of Nova Scotia's dividend payout ratio is presently 89.44%.

Institutional Trading of Bank of Nova Scotia

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in Bank of Nova Scotia by 7.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,095,285 shares of the bank's stock worth $58,839,000 after purchasing an additional 77,820 shares during the period. Mediolanum International Funds Ltd purchased a new position in Bank of Nova Scotia in the 4th quarter worth approximately $292,000. Blue Trust Inc. boosted its stake in Bank of Nova Scotia by 98.6% in the 4th quarter. Blue Trust Inc. now owns 3,134 shares of the bank's stock worth $171,000 after purchasing an additional 1,556 shares during the period. HighTower Advisors LLC raised its position in shares of Bank of Nova Scotia by 11.8% during the fourth quarter. HighTower Advisors LLC now owns 11,438 shares of the bank's stock valued at $614,000 after buying an additional 1,207 shares during the last quarter. Finally, Savant Capital LLC bought a new stake in shares of Bank of Nova Scotia during the fourth quarter valued at approximately $219,000. 49.13% of the stock is currently owned by institutional investors.

About Bank of Nova Scotia

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.