Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS was upgraded by stock analysts at Barclays from an "underweight" rating to an "equal weight" rating in a research report issued on Thursday,Briefing.com Automated Import reports.
A number of other equities research analysts have also commented on the company. UBS Group upgraded Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Monday. TD Securities upgraded Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Monday, November 4th. Bank of America raised Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a report on Tuesday. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, Cibc World Mkts upgraded shares of Bank of Nova Scotia from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $69.00.
Check Out Our Latest Stock Analysis on Bank of Nova Scotia
Bank of Nova Scotia Stock Performance
Bank of Nova Scotia stock opened at $56.30 on Thursday. Bank of Nova Scotia has a 52-week low of $41.80 and a 52-week high of $56.44. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a fifty day moving average price of $53.24 and a two-hundred day moving average price of $49.29. The firm has a market capitalization of $70.06 billion, a P/E ratio of 13.47, a P/E/G ratio of 1.67 and a beta of 1.05.
Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last announced its quarterly earnings results on Tuesday, August 27th. The bank reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.01. The firm had revenue of $8.36 billion during the quarter, compared to the consensus estimate of $8.53 billion. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. The firm's quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the firm posted $1.30 EPS. As a group, analysts anticipate that Bank of Nova Scotia will post 4.75 EPS for the current fiscal year.
Institutional Investors Weigh In On Bank of Nova Scotia
Several institutional investors have recently modified their holdings of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Bank of Nova Scotia by 260.1% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,480,486 shares of the bank's stock valued at $298,575,000 after buying an additional 3,958,580 shares during the period. Pathway Financial Advisers LLC raised its position in shares of Bank of Nova Scotia by 5,380.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 3,972,234 shares of the bank's stock valued at $216,447,000 after acquiring an additional 3,899,760 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Bank of Nova Scotia in the 2nd quarter valued at $120,463,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Bank of Nova Scotia by 24.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,757,961 shares of the bank's stock worth $640,624,000 after purchasing an additional 2,346,995 shares during the last quarter. Finally, Toronto Dominion Bank grew its stake in shares of Bank of Nova Scotia by 9.6% during the third quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank's stock worth $1,361,752,000 after purchasing an additional 2,195,604 shares during the period. Institutional investors and hedge funds own 49.13% of the company's stock.
About Bank of Nova Scotia
(
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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.
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