Bank of Nova Scotia (NYSE:BNS) Earns Hold Rating from TD Securities

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS)‘s stock had its “hold” rating reiterated by analysts at TD Securities in a research report issued on Tuesday, Marketbeat Ratings reports.

Several other analysts have also issued reports on BNS. Royal Bank Of Canada upped their price target on shares of Bank of Nova Scotia from $97.00 to $106.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 25th. Weiss Ratings upgraded Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, February 25th. Finally, Raymond James Financial assumed coverage on Bank of Nova Scotia in a research report on Tuesday, November 25th. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $106.00.

Bank of Nova Scotia Stock Up 1.3%

Shares of NYSE BNS opened at $74.38 on Tuesday. The stock has a market capitalization of $91.69 billion, a P/E ratio of 15.46, a PEG ratio of 0.89 and a beta of 1.10. Bank of Nova Scotia has a one year low of $44.09 and a one year high of $78.28. The firm’s 50 day simple moving average is $74.80 and its two-hundred day simple moving average is $68.96. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.05 and a quick ratio of 1.05.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Tuesday, February 24th. The bank reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.06. Bank of Nova Scotia had a net margin of 12.40% and a return on equity of 12.49%. The company had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $6.99 billion. During the same quarter in the prior year, the company earned $1.76 EPS. The firm’s revenue was up 2.9% on a year-over-year basis. As a group, analysts expect that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Bank of Nova Scotia

Several institutional investors and hedge funds have recently bought and sold shares of the business. Canerector Inc. increased its stake in shares of Bank of Nova Scotia by 8,899.0% during the third quarter. Canerector Inc. now owns 26,997,000 shares of the bank’s stock valued at $1,745,356,000 after buying an additional 26,697,000 shares during the period. Norges Bank bought a new stake in Bank of Nova Scotia in the fourth quarter valued at $1,368,456,000. JPMorgan Chase & Co. increased its position in Bank of Nova Scotia by 83.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 13,148,255 shares of the bank’s stock valued at $726,704,000 after purchasing an additional 5,979,338 shares during the period. FIL Ltd raised its holdings in Bank of Nova Scotia by 49.5% in the 4th quarter. FIL Ltd now owns 16,489,540 shares of the bank’s stock worth $1,216,157,000 after purchasing an additional 5,461,052 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Bank of Nova Scotia by 3,120.1% in the 4th quarter. AQR Capital Management LLC now owns 3,556,295 shares of the bank’s stock worth $262,284,000 after purchasing an additional 3,445,856 shares during the period. Hedge funds and other 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.