Bank of Nova Scotia (TSE:BNS) Given New C$112.00 Price Target at Canaccord Genuity Group

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price raised by Canaccord Genuity Group from C$106.00 to C$112.00 in a report issued on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the bank’s stock. Canaccord Genuity Group’s target price points to a potential upside of 8.33% from the company’s previous close.

Other analysts have also issued reports about the stock. Raymond James Financial set a C$108.00 price target on shares of Bank of Nova Scotia and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. Jefferies Financial Group boosted their target price on shares of Bank of Nova Scotia from C$97.00 to C$104.00 in a report on Wednesday. BMO Capital Markets raised their price objective on shares of Bank of Nova Scotia from C$93.00 to C$98.00 in a research note on Wednesday, December 17th. Barclays increased their target price on Bank of Nova Scotia from C$95.00 to C$97.00 in a research note on Wednesday, December 3rd. Finally, Canadian Imperial Bank of Commerce raised their price target on shares of Bank of Nova Scotia from C$100.00 to C$103.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Bank of Nova Scotia has a consensus rating of “Hold” and an average price target of C$97.75.

Bank of Nova Scotia Price Performance

Shares of Bank of Nova Scotia stock traded down C$1.37 during trading hours on Thursday, reaching C$103.39. The company had a trading volume of 1,357,386 shares, compared to its average volume of 4,647,164. The firm has a market cap of C$127.82 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 1.33 and a beta of 1.33. The business has a fifty day simple moving average of C$101.51 and a 200 day simple moving average of C$92.69. Bank of Nova Scotia has a one year low of C$62.57 and a one year high of C$106.31.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last posted 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 during the quarter. On average, research analysts forecast that Bank of Nova Scotia will post 7.1286267 EPS for the current year.

Insiders Place Their Bets

In other Bank of Nova Scotia news, insider Julie Walsh sold 3,716 shares of the 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 completion of the transaction, the insider owned 1,430 shares in the company, valued at approximately C$143,886.60. This represents a 72.21% decrease in their ownership of the stock. 0.03% of the stock is currently owned by 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.