FY2022 EPS Estimates for The Bank of Nova Scotia Lifted by National Bank Financial (NYSE:BNS)

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) – Analysts at National Bank Financial raised their FY2022 earnings per share (EPS) estimates for shares of Bank of Nova Scotia in a research note issued on Monday, November 22nd. National Bank Financial analyst G. Dechaine now expects that the bank will post earnings per share of $6.65 for the year, up from their previous forecast of $6.46. National Bank Financial currently has a “Sector Perform” rating and a $86.00 target price on the stock. National Bank Financial also issued estimates for Bank of Nova Scotia’s FY2023 earnings at $6.73 EPS.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Monday, August 23rd. The bank reported $2.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.51. Bank of Nova Scotia had a net margin of 22.86% and a return on equity of 13.87%. The business had revenue of $7.76 billion during the quarter, compared to analysts’ expectations of $7.77 billion. During the same quarter in the prior year, the business posted $1.04 earnings per share. Bank of Nova Scotia’s revenue was up .3% compared to the same quarter last year.

Several other research firms have also recently weighed in on BNS. Canaccord Genuity raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Wednesday. TD Securities cut their price objective on shares of Bank of Nova Scotia from C$90.00 to C$87.00 and set a “buy” rating for the company in a research report on Wednesday, August 25th. Fundamental Research upped their price objective on shares of Bank of Nova Scotia from $85.00 to $87.68 and gave the stock a “buy” rating in a research report on Wednesday, September 1st. Veritas Investment Research reissued a “buy” rating on shares of Bank of Nova Scotia in a report on Friday, November 12th. Finally, Royal Bank of Canada increased their target price on shares of Bank of Nova Scotia from C$86.00 to C$89.00 and gave the stock an “outperform” rating in a report on Wednesday, August 25th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $86.43.

BNS opened at $65.74 on Thursday. Bank of Nova Scotia has a twelve month low of $48.69 and a twelve month high of $68.02. The company has a 50-day simple moving average of $64.28 and a 200 day simple moving average of $64.18. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $79.90 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 0.74 and a beta of 0.93.

Several institutional investors have recently added to or reduced their stakes in BNS. Mufg Securities Canada LTD. increased its stake in shares of Bank of Nova Scotia by 109.9% in the third quarter. Mufg Securities Canada LTD. now owns 11,848,905 shares of the bank’s stock valued at $730,749,000 after buying an additional 6,203,008 shares during the period. Invesco Ltd. increased its stake in shares of Bank of Nova Scotia by 32.3% in the second quarter. Invesco Ltd. now owns 6,427,666 shares of the bank’s stock valued at $418,248,000 after buying an additional 1,569,098 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Bank of Nova Scotia by 27.1% in the second quarter. JPMorgan Chase & Co. now owns 4,873,915 shares of the bank’s stock valued at $317,145,000 after buying an additional 1,039,867 shares during the period. Nicola Wealth Management LTD. increased its stake in shares of Bank of Nova Scotia by 273.9% in the third quarter. Nicola Wealth Management LTD. now owns 1,155,500 shares of the bank’s stock valued at $70,703,000 after buying an additional 846,500 shares during the period. Finally, Marathon Asset Mgmt Ltd acquired a new position in shares of Bank of Nova Scotia in the third quarter valued at approximately $47,193,000. 45.56% of the stock is owned by institutional investors.

About Bank of Nova Scotia

The Bank of Nova Scotia engages in the provision of financial products and services, including personal, commercial, corporate, and investment banking. It operates through the following segments: Canadian Banking, International Banking, Global Banking and Markets, and Other. The Other segment includes group treasury, smaller operating segments and business line elimination items.

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Earnings History and Estimates for Bank of Nova Scotia (NYSE:BNS)

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