Bank of Nova Scotia (TSE:BNS) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price objective upped by equities research analysts at Canaccord Genuity Group from C$106.00 to C$112.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the bank’s stock. Canaccord Genuity Group’s price target suggests a potential upside of 8.57% from the stock’s previous close.

BNS has been the topic of a number of other reports. Desjardins upped their price target on Bank of Nova Scotia from C$104.00 to C$106.00 and gave the stock a “hold” rating in a research report on Monday, February 9th. Barclays boosted their target price on Bank of Nova Scotia from C$95.00 to C$97.00 in a research note on Wednesday, December 3rd. Jefferies Financial Group upped their target price on Bank of Nova Scotia from C$97.00 to C$104.00 in a research report on Wednesday. Canadian Imperial Bank of Commerce raised their price target on Bank of Nova Scotia from C$100.00 to C$103.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Finally, TD Securities boosted their price target on Bank of Nova Scotia from C$104.00 to C$112.00 in a research note on Monday, February 9th. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Bank of Nova Scotia has an average rating of “Hold” and an average price target of C$98.17.

Bank of Nova Scotia Stock Performance

Shares of Bank of Nova Scotia stock opened at C$103.16 on Thursday. The company has a market capitalization of C$127.54 billion, a PE ratio of 18.19, a P/E/G ratio of 1.33 and a beta of 1.33. The company has a 50-day simple moving average of C$101.69 and a two-hundred day simple moving average of C$92.94. Bank of Nova Scotia has a one year low of C$62.57 and a one year high of C$106.31.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its quarterly earnings data on Tuesday, December 2nd. The bank reported C$1.93 earnings per share (EPS) for the quarter. The firm had revenue of C$9.77 billion for the quarter. Bank of Nova Scotia had a net margin of 17.68% and a return on equity of 9.64%. On average, equities analysts predict that Bank of Nova Scotia will post 7.1286267 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Julie Walsh sold 3,716 shares of Bank of Nova Scotia stock in a transaction dated Monday, December 15th. The stock was sold at an average price of C$100.62, for a total transaction of C$373,903.92. Following the completion of the sale, the insider owned 1,430 shares of the company’s stock, valued at C$143,886.60. The trade was a 72.21% decrease in their ownership of the stock. 0.03% of the stock is currently owned by insiders.

About Bank of Nova Scotia

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It 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 bank’s international operations span numerous countries and are more concentrated in Central and South America.