Bank of Nova Scotia (The) (NYSE:BNS) Receives Consensus Rating of “Moderate Buy” from Analysts

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) has earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $117.00.

BNS has been the topic of several research analyst reports. Weiss Ratings cut shares of Bank of Nova Scotia from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, August 18th. Keefe, Bruyette & Woods assumed coverage on Bank of Nova Scotia in a research note on Friday. They set an “outperform” rating on the stock. Finally, Royal Bank Of Canada lifted their price target on Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a “sector perform” rating in a report on Thursday, May 28th.

Bank of Nova Scotia Trading Down 0.9%

Shares of Bank of Nova Scotia stock opened at $86.82 on Tuesday. Bank of Nova Scotia has a 1 year low of $57.23 and a 1 year high of $92.04. The company has a market capitalization of $105.82 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 1.08 and a beta of 1.11. The business has a fifty day simple moving average of $87.62 and a two-hundred day simple moving average of $79.69. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data 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. The company had revenue of $7.24 billion for the quarter, compared to analyst estimates of $7.13 billion. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. The company’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.52 earnings per share. Research analysts forecast that Bank of Nova Scotia will post 6.03 EPS for the current year.

Institutional Investors Weigh In On Bank of Nova Scotia

A number of institutional investors have recently modified their holdings of BNS. Norges Bank acquired a new stake in Bank of Nova Scotia in the 4th quarter worth about $1,368,456,000. Canada Pension Plan Investment Board acquired a new position in shares of Bank of Nova Scotia during the 2nd quarter worth approximately $1,016,738,000. Legal & General Group Plc bought a new position in shares of Bank of Nova Scotia during the second quarter worth approximately $709,837,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Bank of Nova Scotia during the second quarter worth approximately $567,278,000. Finally, FIL Ltd raised its position in shares of Bank of Nova Scotia by 49.5% in the fourth quarter. FIL Ltd now owns 16,489,540 shares of the bank’s stock valued at $1,216,157,000 after buying an additional 5,461,052 shares in the last quarter. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Company Profile

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.