Bank of Nova Scotia (The) (NYSE:BNS) Receives $117.00 Average Target Price from Analysts

Shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) have been assigned an average rating of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $117.00.

A number of brokerages have recently issued reports on BNS. Royal Bank Of Canada lifted their price objective 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. Weiss Ratings raised shares of Bank of Nova Scotia from a “buy (b)” rating to a “buy (a-)” rating in a research report on Monday.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BNS. Maseco LLP purchased a new stake in Bank of Nova Scotia in the 1st quarter valued at $30,000. Swiss RE Ltd. purchased a new position in Bank of Nova Scotia during the 4th quarter worth $30,000. Brown Brothers Harriman & Co. bought a new stake in shares of Bank of Nova Scotia in the 4th quarter worth $34,000. Quarry LP bought a new stake in shares of Bank of Nova Scotia in the 3rd quarter worth $35,000. Finally, CoreCap Advisors LLC raised its holdings in shares of Bank of Nova Scotia by 1,366.7% in the second quarter. CoreCap Advisors LLC now owns 440 shares of the bank’s stock valued at $38,000 after purchasing an additional 410 shares during the last quarter. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

Shares of BNS opened at $88.27 on Friday. Bank of Nova Scotia has a 12-month low of $55.51 and a 12-month high of $90.47. The business’s fifty day moving average is $85.78 and its 200 day moving average is $78.48. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The stock has a market cap of $107.81 billion, a P/E ratio of 16.85, a P/E/G ratio of 1.10 and a beta of 1.11.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings results on Wednesday, May 27th. The bank reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. The business had revenue of $7.24 billion during the quarter, compared to analyst estimates of $7.13 billion. During the same quarter in the previous year, the business posted $1.52 EPS. Bank of Nova Scotia’s quarterly revenue was up 8.3% on a year-over-year basis. Sell-side analysts anticipate that Bank of Nova Scotia will post 5.99 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.