Bank of Nova Scotia (The) (NYSE:BNS) Given Consensus Recommendation of “Hold” by Analysts

Shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) have been given a consensus recommendation of “Hold” by the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $117.00.

Several equities analysts have weighed in on BNS shares. Canaccord Genuity Group cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of Nova Scotia in a research report on Friday, May 22nd. Finally, Royal Bank Of Canada raised their target price on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a report on Thursday, May 28th.

Institutional Trading of Bank of Nova Scotia

Large investors have recently made changes to their positions in the business. Eastern Bank increased its stake in Bank of Nova Scotia by 223.4% during the second quarter. Eastern Bank now owns 1,271 shares of the bank’s stock worth $110,000 after acquiring an additional 878 shares during the last quarter. Ravenstone Capital Management Inc. lifted its stake in shares of Bank of Nova Scotia by 12.9% in the 1st quarter. Ravenstone Capital Management Inc. now owns 10,705 shares of the bank’s stock valued at $740,000 after purchasing an additional 1,220 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Bank of Nova Scotia by 12.5% in the 1st quarter. Parallel Advisors LLC now owns 3,625 shares of the bank’s stock worth $251,000 after purchasing an additional 403 shares during the period. Glenmede Trust Co. NA purchased a new position in shares of Bank of Nova Scotia in the 1st quarter worth approximately $396,000. Finally, Bank of America Corp DE increased its position in shares of Bank of Nova Scotia by 8.7% during the 1st quarter. Bank of America Corp DE now owns 5,024,708 shares of the bank’s stock valued at $348,263,000 after purchasing an additional 400,382 shares during the last quarter. 49.13% of the stock is currently owned by institutional investors.

Bank of Nova Scotia Stock Down 0.0%

BNS opened at $85.36 on Monday. The firm has a 50-day simple moving average of $81.05 and a two-hundred day simple moving average of $76.04. Bank of Nova Scotia has a 52 week low of $54.31 and a 52 week high of $87.97. The company has a market capitalization of $104.57 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 1.06 and a beta of 1.11. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.69.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. The firm had revenue of $7.24 billion during the quarter, compared to analyst estimates of $7.13 billion. Bank of Nova Scotia had a return on equity of 13.16% and a net margin of 13.38%.The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.52 earnings per share. Analysts forecast that Bank of Nova Scotia will post 6.01 earnings per share for the current fiscal year.

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.