Macquarie began coverage on shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) in a research note issued to investors on Tuesday, The Fly reports. The brokerage set an “outperform” rating on the bank’s stock.

BNS has been the subject of several other research reports. Canaccord Genuity set a $87.00 price objective on Bank of Nova Scotia (The) and gave the company a “buy” rating in a report on Tuesday, August 29th. Scotiabank restated a “buy” rating and issued a $88.00 price objective on shares of Bank of Nova Scotia (The) in a report on Wednesday, August 30th. BidaskClub upgraded Bank of Nova Scotia (The) from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Citigroup Inc. upgraded Bank of Nova Scotia (The) from a “neutral” rating to a “buy” rating in a report on Wednesday, September 20th. Finally, Zacks Investment Research upgraded Bank of Nova Scotia (The) from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a report on Tuesday, July 18th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $83.20.

Shares of Bank of Nova Scotia (NYSE:BNS) opened at 64.27 on Tuesday. The firm has a 50 day moving average price of $63.89 and a 200-day moving average price of $60.32. Bank of Nova Scotia has a 12 month low of $51.21 and a 12 month high of $65.07. The firm has a market cap of $77.01 billion, a PE ratio of 12.18 and a beta of 1.26.

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Tuesday, August 29th. The bank reported $1.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by ($0.38). The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.28 billion. Bank of Nova Scotia (The) had a net margin of 22.26% and a return on equity of 14.54%. During the same quarter in the previous year, the business earned $1.54 EPS. On average, analysts predict that Bank of Nova Scotia will post $5.18 EPS for the current fiscal year.

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A number of large investors have recently modified their holdings of BNS. Arrowstreet Capital Limited Partnership lifted its stake in Bank of Nova Scotia (The) by 481.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,001,634 shares of the bank’s stock valued at $360,796,000 after purchasing an additional 4,969,752 shares during the last quarter. Public Sector Pension investment Board lifted its stake in Bank of Nova Scotia (The) by 13,160.8% in the 2nd quarter. Public Sector Pension investment Board now owns 2,380,451 shares of the bank’s stock valued at $142,988,000 after purchasing an additional 2,362,500 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Bank of Nova Scotia (The) by 787.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,312,474 shares of the bank’s stock valued at $138,905,000 after purchasing an additional 2,051,874 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Bank of Nova Scotia (The) in the 2nd quarter valued at about $117,297,000. Finally, Vanguard Group Inc. lifted its stake in Bank of Nova Scotia (The) by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 26,994,461 shares of the bank’s stock valued at $1,623,177,000 after purchasing an additional 1,105,865 shares during the last quarter. Institutional investors and hedge funds own 46.40% of the company’s stock.

Bank of Nova Scotia (The) Company Profile

The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank 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 Fly

Analyst Recommendations for Bank of Nova Scotia (The) (NYSE:BNS)

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