Canadian Imperial Bank of Commerce Forecasts Strong Price Appreciation for Bank of Nova Scotia (TSE:BNS) Stock

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price objective upped by investment analysts at Canadian Imperial Bank of Commerce from C$108.00 to C$109.00 in a report released on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price objective points to a potential upside of 11.19% from the company’s current price.

Other equities analysts also recently issued reports about the company. TD Securities downgraded Bank of Nova Scotia from a “buy” rating to a “hold” rating and lowered their price objective for the stock from C$112.00 to C$111.00 in a research report on Tuesday. Barclays lifted their price target on shares of Bank of Nova Scotia from C$106.00 to C$108.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 25th. UBS Group increased their price target on Bank of Nova Scotia from C$118.00 to C$120.00 in a research report on Wednesday, February 25th. BMO Capital Markets upped their price objective on Bank of Nova Scotia from C$98.00 to C$101.00 and gave the company a “market perform” rating in a research note on Wednesday, February 25th. Finally, Desjardins increased their price objective on Bank of Nova Scotia from C$106.00 to C$107.00 and gave the company a “hold” rating in a report on Wednesday, February 25th. Two investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$107.42.

Bank of Nova Scotia Stock Down 1.7%

BNS stock opened at C$98.03 on Thursday. The company has a market cap of C$120.83 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 1.33 and a beta of 1.16. The business’s fifty day moving average is C$102.48 and its 200-day moving average is C$95.61. Bank of Nova Scotia has a twelve month low of C$62.57 and a twelve month high of C$106.39.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings data on Tuesday, December 2nd. The bank reported C$1.93 earnings per share for the quarter. The business had revenue of C$9.77 billion for the quarter. Bank of Nova Scotia had a return on equity of 10.41% and a net margin of 14.45%. Research analysts anticipate that Bank of Nova Scotia will post 7.1286267 earnings per share for the current fiscal year.

Insider Buying and Selling at Bank of Nova Scotia

In related news, insider Julie Walsh sold 3,716 shares of Bank of Nova Scotia stock in a transaction dated Monday, December 15th. The shares were sold at an average price of C$100.62, for a total transaction of C$373,903.92. Following the completion of the transaction, the insider directly owned 1,430 shares of the company’s stock, valued at C$143,886.60. This trade represents a 72.21% decrease in their position. 0.03% of the stock is owned by corporate insiders.

Bank of Nova Scotia Company Profile

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.