Bank of Nova Scotia (The) (NYSE:BNS) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) have been assigned an average rating of “Moderate Buy” from the ten ratings firms that are presently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $86.00.

A number of analysts recently issued reports on BNS shares. Weiss Ratings restated a “buy (b-)” rating on shares of Bank of Nova Scotia in a research report on Wednesday, October 8th. Wall Street Zen upgraded Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Finally, Royal Bank Of Canada lifted their target price on Bank of Nova Scotia from $80.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 27th.

Institutional Trading of Bank of Nova Scotia

Several institutional investors and hedge funds have recently made changes to their positions in BNS. Cypress Capital Management LLC WY bought a new stake in shares of Bank of Nova Scotia during the second quarter worth $33,000. VSM Wealth Advisory LLC bought a new stake in shares of Bank of Nova Scotia during the second quarter worth $55,000. MAI Capital Management lifted its position in shares of Bank of Nova Scotia by 40.7% during the first quarter. MAI Capital Management now owns 1,211 shares of the bank’s stock worth $57,000 after purchasing an additional 350 shares during the last quarter. Toth Financial Advisory Corp bought a new stake in shares of Bank of Nova Scotia during the third quarter worth $67,000. Finally, SVB Wealth LLC bought a new stake in shares of Bank of Nova Scotia during the first quarter worth $69,000. 49.13% of the stock is currently owned by institutional investors.

Bank of Nova Scotia Stock Up 1.0%

Shares of BNS opened at $65.88 on Wednesday. The company has a market cap of $81.73 billion, a PE ratio of 17.71, a P/E/G ratio of 1.49 and a beta of 1.16. The business has a fifty day moving average of $63.44 and a 200 day moving average of $56.76. Bank of Nova Scotia has a 52-week low of $44.09 and a 52-week high of $66.10. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.66.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings results on Tuesday, August 26th. The bank reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.09. The company had revenue of $6.85 billion during the quarter, compared to the consensus estimate of $9.29 billion. Bank of Nova Scotia had a return on equity of 11.61% and a net margin of 9.74%.Bank of Nova Scotia’s revenue was up 13.4% on a year-over-year basis. During the same period last year, the company earned $1.63 earnings per share. On average, sell-side analysts expect that Bank of Nova Scotia will post 4.91 EPS for the current year.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.