Several other analysts have also commented on BNS. Zacks Investment Research lowered Bank of Nova Scotia from a “buy” rating to a “hold” rating in a report on Friday, February 8th. Desjardins reissued an “average” rating and issued a $81.00 price objective on shares of Bank of Nova Scotia in a report on Wednesday, February 27th. TD Securities lowered Bank of Nova Scotia from a “buy” rating to a “hold” rating in a report on Tuesday, February 26th. Finally, CIBC lowered Bank of Nova Scotia from a “sector outperform” rating to a “neutral” rating in a report on Wednesday, February 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $79.50.
Bank of Nova Scotia stock traded down $0.04 during midday trading on Friday, hitting $53.08. 341,500 shares of the company were exchanged, compared to its average volume of 747,781. The firm has a market cap of $64.46 billion, a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 1.96 and a beta of 1.17. Bank of Nova Scotia has a fifty-two week low of $48.34 and a fifty-two week high of $63.27. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.27.
Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its earnings results on Tuesday, February 26th. The bank reported $1.32 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.10). The company had revenue of $7.60 billion for the quarter, compared to analyst estimates of $7.78 billion. Bank of Nova Scotia had a return on equity of 13.93% and a net margin of 19.86%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the business earned $1.74 earnings per share. Equities analysts expect that Bank of Nova Scotia will post 5.36 EPS for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of BNS. JPMorgan Chase & Co. grew its holdings in Bank of Nova Scotia by 138.4% in the third quarter. JPMorgan Chase & Co. now owns 1,992,717 shares of the bank’s stock valued at $118,827,000 after purchasing an additional 1,156,775 shares during the period. BlackRock Inc. purchased a new position in shares of Bank of Nova Scotia in the third quarter valued at approximately $1,669,000. Vanguard Group Inc lifted its position in shares of Bank of Nova Scotia by 3.9% in the third quarter. Vanguard Group Inc now owns 32,022,181 shares of the bank’s stock valued at $1,909,483,000 after acquiring an additional 1,199,502 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Bank of Nova Scotia by 275.7% in the fourth quarter. Quadrant Capital Group LLC now owns 6,338 shares of the bank’s stock valued at $302,000 after acquiring an additional 4,651 shares in the last quarter. Finally, Davis Rea LTD. lifted its position in shares of Bank of Nova Scotia by 6.7% in the fourth quarter. Davis Rea LTD. now owns 164,082 shares of the bank’s stock valued at $8,283,000 after acquiring an additional 10,344 shares in the last quarter. 48.80% of the stock is currently owned by institutional investors.
Bank of Nova Scotia Company Profile
The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.
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