Bank of Nova Scotia (BNS) Forecasted to Post Q1 2019 Earnings of $1.41 Per Share
Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) – Equities researchers at Cormark increased their Q1 2019 earnings estimates for Bank of Nova Scotia in a note issued to investors on Tuesday. Cormark analyst M. Grauman now anticipates that the bank will post earnings per share of $1.41 for the quarter, up from their prior estimate of $1.38. Cormark also issued estimates for Bank of Nova Scotia’s Q2 2019 earnings at $1.42 EPS, Q3 2019 earnings at $1.51 EPS and Q4 2019 earnings at $1.52 EPS.
A number of other research analysts also recently weighed in on the company. Zacks Investment Research downgraded Bank of Nova Scotia from a “buy” rating to a “sell” rating in a research note on Tuesday, October 31st. Scotiabank reissued a “buy” rating and issued a $88.00 price objective on shares of Bank of Nova Scotia in a research note on Wednesday, August 30th. Macquarie started coverage on Bank of Nova Scotia in a research note on Tuesday, October 24th. They issued an “outperform” rating on the stock. Canaccord Genuity set a $87.00 price objective on Bank of Nova Scotia and gave the company a “buy” rating in a research note on Tuesday, August 29th. Finally, BidaskClub raised Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $85.80.
Hedge funds and other institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. bought a new position in Bank of Nova Scotia in the 2nd quarter worth approximately $117,297,000. Investec Asset Management LTD increased its position in Bank of Nova Scotia by 15.9% in the 2nd quarter. Investec Asset Management LTD now owns 2,538,054 shares of the bank’s stock worth $152,455,000 after buying an additional 347,432 shares during the period. Willingdon Wealth Management bought a new position in Bank of Nova Scotia in the 2nd quarter worth approximately $2,117,000. OMERS ADMINISTRATION Corp increased its position in Bank of Nova Scotia by 5.3% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 3,406,680 shares of the bank’s stock worth $204,632,000 after buying an additional 170,800 shares during the period. Finally, Andra AP fonden increased its position in Bank of Nova Scotia by 18.1% in the 3rd quarter. Andra AP fonden now owns 127,800 shares of the bank’s stock worth $10,250,000 after buying an additional 19,600 shares during the period. 47.01% of the stock is currently owned by institutional investors.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Shareholders of record on Tuesday, January 2nd will be given a $0.617 dividend. This represents a $2.47 annualized dividend and a yield of 3.86%. The ex-dividend date is Friday, December 29th. Bank of Nova Scotia’s dividend payout ratio is currently 49.50%.
About Bank of Nova Scotia
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.
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