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

Shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) have been given a consensus rating of “Hold” by the five ratings firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $117.00.

A number of research analysts have weighed in on BNS shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of Nova Scotia in a research note on Friday, May 22nd. Royal Bank Of Canada upped their price objective on Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a research note on Thursday, May 28th.

Institutional Investors Weigh In On Bank of Nova Scotia

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BNS. World Equity Group Inc. purchased a new stake in Bank of Nova Scotia during the second quarter valued at about $214,000. PensionDanmark Pensionsforsikringsaktieselskab raised its position in shares of Bank of Nova Scotia by 9.3% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 178,226 shares of the bank’s stock valued at $15,460,000 after purchasing an additional 15,100 shares during the period. 55 North Private Wealth LLC purchased a new stake in shares of Bank of Nova Scotia during the 2nd quarter valued at approximately $214,000. Dynamic Advisor Solutions LLC boosted its holdings in Bank of Nova Scotia by 3.0% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 15,784 shares of the bank’s stock worth $1,371,000 after buying an additional 466 shares during the period. Finally, CoreCap Advisors LLC grew its stake in Bank of Nova Scotia by 1,366.7% in the 2nd quarter. CoreCap Advisors LLC now owns 440 shares of the bank’s stock valued at $38,000 after buying an additional 410 shares in the last quarter. 49.13% of the stock is currently owned by institutional investors.

Bank of Nova Scotia Trading Up 0.1%

NYSE BNS opened at $87.68 on Monday. The business’s fifty day moving average is $82.10 and its 200-day moving average is $76.53. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $107.41 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 1.08 and a beta of 1.11. Bank of Nova Scotia has a one year low of $54.31 and a one year high of $87.97.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings results on Wednesday, May 27th. The bank reported $1.47 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $7.24 billion during the quarter, compared to analyst estimates of $7.13 billion. During the same quarter in the prior year, the business earned $1.52 earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities research analysts predict that Bank of Nova Scotia will post 6.01 EPS for the current year.

About Bank of Nova Scotia

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.