Bank of Nova Scotia (TSE:BNS) Price Target Raised to C$108.00

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price boosted by equities research analysts at CIBC World Markets from C$103.00 to C$108.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has a “neutral” rating on the bank’s stock. CIBC World Markets’ price target would suggest a potential upside of 5.13% from the company’s current price.

Several other research firms have also commented on BNS. Canaccord Genuity Group lifted their price target on shares of Bank of Nova Scotia from C$106.00 to C$112.00 and gave the company a “buy” rating in a report on Thursday. TD Securities upped their target price on Bank of Nova Scotia from C$104.00 to C$112.00 in a report on Monday. Raymond James Financial set a C$108.00 price target on Bank of Nova Scotia and gave the stock an “outperform” rating in a research report on Tuesday, November 25th. Jefferies Financial Group raised their price target on Bank of Nova Scotia from C$97.00 to C$104.00 in a report on Wednesday. Finally, Barclays upped their price objective on Bank of Nova Scotia from C$95.00 to C$97.00 in a research note on Wednesday, December 3rd. Three research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$98.54.

Bank of Nova Scotia Price Performance

Bank of Nova Scotia stock traded down C$0.55 during midday trading on Friday, hitting C$102.73. 986,294 shares of the stock were exchanged, compared to its average volume of 4,584,283. Bank of Nova Scotia has a 1 year low of C$62.57 and a 1 year high of C$106.31. The firm has a market cap of C$127.01 billion, a P/E ratio of 18.12, a P/E/G ratio of 1.33 and a beta of 1.33. The company has a 50 day moving average price of C$101.61 and a two-hundred day moving average price of C$92.76.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its 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 company had revenue of C$9.77 billion for the quarter. As a group, analysts predict that Bank of Nova Scotia will post 7.1286267 EPS for the current year.

Insider Activity

In other news, insider Julie Walsh sold 3,716 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of C$100.62, for a total transaction of C$373,903.92. Following the completion of the sale, the insider directly owned 1,430 shares of the company’s stock, valued at C$143,886.60. This represents a 72.21% decrease in their ownership of the stock. 0.03% of the stock is owned by company 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.