Royal Bank Of Canada Raises Bank of Nova Scotia (NYSE:BNS) Price Target to $97.00

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) had its target price raised by stock analysts at Royal Bank Of Canada from $86.00 to $97.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the bank’s stock. Royal Bank Of Canada’s price target points to a potential upside of 38.56% from the company’s current price.

BNS has been the subject of several other reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Bank of Nova Scotia in a research report on Wednesday, October 8th. Raymond James Financial began coverage on shares of Bank of Nova Scotia in a research note on Tuesday, November 25th. They set an “outperform” rating for the company. Finally, Wall Street Zen upgraded shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $97.00.

Bank of Nova Scotia Stock Down 0.8%

Shares of NYSE BNS traded down $0.54 during mid-day trading on Wednesday, reaching $70.01. The company had a trading volume of 1,114,766 shares, compared to its average volume of 1,892,974. The company has a market capitalization of $86.55 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 1.06 and a beta of 1.13. The stock has a fifty day moving average of $65.77 and a two-hundred day moving average of $59.98. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.03 and a current ratio of 1.03. Bank of Nova Scotia has a 12-month low of $44.09 and a 12-month high of $71.09.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings results on Tuesday, December 2nd. The bank reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.06. Bank of Nova Scotia had a net margin of 9.74% and a return on equity of 11.61%. The company had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.85 billion. During the same period last year, the business posted $1.57 EPS. The business’s quarterly revenue was up 15.0% on a year-over-year basis. As a group, equities research analysts expect that Bank of Nova Scotia will post 4.91 EPS for the current year.

Hedge Funds Weigh In On Bank of Nova Scotia

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mondrian Investment Partners LTD acquired a new position in Bank of Nova Scotia in the third quarter worth $30,000. Quarry LP bought a new position in shares of Bank of Nova Scotia in the third quarter valued at about $35,000. Virtus Advisers LLC acquired a new position in Bank of Nova Scotia during the 3rd quarter worth about $39,000. Cypress Capital Management LLC WY bought a new stake in Bank of Nova Scotia during the 2nd quarter worth about $33,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Bank of Nova Scotia during the 3rd quarter worth about $45,000. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.