Royal Bank Of Canada Forecasts Strong Price Appreciation for Bank of Nova Scotia (NYSE:BNS) Stock

Key Points

• Royal Bank of Canada raised its price target on Bank of Nova Scotia from $98 to $117, implying about 46% upside from the current share price. The firm kept a sector perform rating.
• Analyst sentiment remains mixed overall: the stock has two Buy ratings and three Hold ratings, with an average Hold rating and a consensus price target of $117.
• Scotiabank recently beat quarterly earnings estimates, reporting $1.48 EPS versus $1.42 expected and revenue of $7.40 billion above estimates, while its share price traded down slightly to $79.89.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS had its price target increased by research analysts at Royal Bank Of Canada from $98.00 to $117.00 in a report released on Thursday,Benzinga reports. The firm currently has a "sector perform" rating on the bank's stock. Royal Bank Of Canada's target price indicates a potential upside of 46.46% from the stock's current price.

Several other equities research analysts also recently issued reports on the company. Weiss Ratings restated a "buy (b)" rating on shares of Bank of Nova Scotia in a report on Friday, May 22nd. Canaccord Genuity Group downgraded Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a report on Monday, March 9th. Finally, TD Securities reiterated a "hold" rating on shares of Bank of Nova Scotia in a report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $117.00.

Bank of Nova Scotia Trading Down 1.0%

NYSE BNS traded down $0.79 on Thursday, reaching $79.89. The company had a trading volume of 2,083,872 shares, compared to its average volume of 2,295,969. The stock's 50 day moving average is $74.30 and its 200-day moving average is $73.23. The stock has a market cap of $98.19 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 1.02 and a beta of 1.13. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.68. Bank of Nova Scotia has a 52 week low of $52.44 and a 52 week high of $82.22.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last released its quarterly earnings data on Tuesday, February 24th. The bank reported $1.48 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.06. Bank of Nova Scotia had a return on equity of 12.49% and a net margin of 12.40%.The business had revenue of $7.40 billion during the quarter, compared to the consensus estimate of $6.99 billion. During the same quarter in the prior year, the company posted $1.76 earnings per share. The firm's revenue was up 2.9% on a year-over-year basis. Equities analysts predict that Bank of Nova Scotia will post 6.03 earnings per share for the current year.

Institutional Trading of Bank of Nova Scotia

Hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC increased its stake in shares of Bank of Nova Scotia by 111.2% during the first quarter. AQR Capital Management LLC now owns 19,096 shares of the bank's stock worth $911,000 after purchasing an additional 10,056 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Bank of Nova Scotia during the second quarter worth approximately $330,000. EverSource Wealth Advisors LLC increased its stake in Bank of Nova Scotia by 42.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,165 shares of the bank's stock worth $120,000 after acquiring an additional 649 shares during the period. Sei Investments Co. increased its stake in Bank of Nova Scotia by 2.1% during the 2nd quarter. Sei Investments Co. now owns 21,212 shares of the bank's stock worth $1,172,000 after acquiring an additional 434 shares during the period. Finally, Quantinno Capital Management LP increased its stake in Bank of Nova Scotia by 61.1% during the 2nd quarter. Quantinno Capital Management LP now owns 66,962 shares of the bank's stock worth $3,701,000 after acquiring an additional 25,400 shares during the period. 49.13% of the stock is owned by institutional investors and hedge funds.

Key Bank of Nova Scotia News

Here are the key news stories impacting Bank of Nova Scotia this week:

• Positive Sentiment: Bank of Nova Scotia raised its quarterly dividend after delivering a strong Q2 performance, signaling management confidence in the bank’s outlook. Canada's Bank of Nova Scotia raises dividend after strong quarter
• Positive Sentiment: The company reported Q2 earnings of $2.02 per share versus estimates of $1.42, with revenue also topping expectations and rising 8.3% year over year, a clear catalyst for the stock. Bank of Nova Scotia Q2 2026 Earnings Report
• Positive Sentiment: Reports from Reuters, the Financial Post, and other outlets say the earnings beat was driven by stronger interest income and solid performance in Canadian banking and wealth segments. Canada's Scotiabank posts rise in quarterly profit on interest income boost
• Neutral Sentiment: Analysts and commentary pieces are comparing Scotiabank with other Canadian banks and framing it as a dividend-focused holding, which may support investor interest but is not a direct earnings driver. Bank of Nova Scotia vs. CIBC: The Dividend Pick I’d Hold for 2026

Bank of Nova Scotia Company Profile

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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