National Bankshares Raises Bank of Nova Scotia (TSE:BNS) Price Target to C$78.00

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price lifted by equities research analysts at National Bankshares from C$66.00 to C$78.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. National Bankshares’ price objective indicates a potential downside of 0.43% from the company’s previous close.

Several other research firms also recently weighed in on BNS. CIBC raised Bank of Nova Scotia from a “neutral” rating to an “outperform” rating and increased their price objective for the company from C$78.00 to C$82.00 in a report on Friday, September 20th. Cibc World Mkts raised Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Friday, September 20th. Jefferies Financial Group increased their price target on Bank of Nova Scotia from C$65.00 to C$69.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Cormark decreased their price target on Bank of Nova Scotia from C$68.00 to C$65.00 and set a “market perform” rating for the company in a report on Tuesday, August 20th. Finally, BMO Capital Markets increased their price target on Bank of Nova Scotia from C$72.00 to C$84.00 in a report on Monday. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$74.75.

Bank of Nova Scotia Price Performance

Shares of BNS stock traded down C$0.04 during trading hours on Wednesday, reaching C$78.34. 1,666,093 shares of the stock were exchanged, compared to its average volume of 4,254,823. The business’s fifty day moving average is C$72.91 and its two-hundred day moving average is C$67.29. Bank of Nova Scotia has a 12-month low of C$56.83 and a 12-month high of C$78.99. The firm has a market capitalization of C$97.14 billion, a P/E ratio of 13.72, a P/E/G ratio of 1.33 and a beta of 0.97.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its quarterly earnings results on Tuesday, August 27th. The bank reported C$1.63 EPS for the quarter, meeting the consensus estimate of C$1.63. The company had revenue of C$8.36 billion for the quarter, compared to analyst estimates of C$8.50 billion. Bank of Nova Scotia had a net margin of 25.38% and a return on equity of 9.49%. As a group, equities research analysts predict that Bank of Nova Scotia will post 7.1286267 earnings per share for the current fiscal year.

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.