Bank of Nova Scotia (The) (NYSE:BNS) Receives Average Rating of “Hold” from Analysts

Shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) have earned an average recommendation of “Hold” from the five analysts that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $117.00.

A number of research firms recently issued reports on BNS. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of Nova Scotia in a research note on Friday, May 22nd. Royal Bank Of Canada boosted their target price on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the stock a “sector perform” rating in a report on Thursday, May 28th.

Bank of Nova Scotia Price Performance

Shares of Bank of Nova Scotia stock opened at $87.68 on Monday. The firm has a market cap of $107.41 billion, a PE ratio of 16.73, a PEG ratio of 1.07 and a beta of 1.11. The stock has a 50 day moving average of $82.10 and a 200 day moving average of $76.51. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.69. Bank of Nova Scotia has a 12 month low of $54.31 and a 12 month high of $87.97.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.05. The business had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $7.13 billion. Bank of Nova Scotia had a return on equity of 13.16% and a net margin of 13.38%.The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.52 EPS. On average, research analysts expect that Bank of Nova Scotia will post 6.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Bank of Nova Scotia

Large investors have recently added to or reduced their stakes in the stock. Maseco LLP bought a new stake in shares of Bank of Nova Scotia in the 1st quarter valued at approximately $30,000. Swiss RE Ltd. purchased a new position in shares of Bank of Nova Scotia in the 4th quarter worth approximately $30,000. Brown Brothers Harriman & Co. bought a new position in shares of Bank of Nova Scotia during the 4th quarter valued at approximately $34,000. Quarry LP bought a new position in shares of Bank of Nova Scotia during the 3rd quarter valued at approximately $35,000. Finally, CoreCap Advisors LLC raised its holdings in Bank of Nova Scotia by 1,366.7% during the 2nd quarter. CoreCap Advisors LLC now owns 440 shares of the bank’s stock valued at $38,000 after buying an additional 410 shares during the period. 49.13% of the stock is owned by institutional investors.

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.