Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS was upgraded by Canaccord Genuity Group from a "hold" rating to a "buy" rating in a research note issued on Tuesday,Briefing.com Automated Import reports.
A number of other equities research analysts also recently issued reports on the stock. TD Securities raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. UBS Group raised shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Monday. Bank of America raised shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Tuesday. Finally, Cibc World Mkts raised shares of Bank of Nova Scotia from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Bank of Nova Scotia presently has an average rating of "Moderate Buy" and a consensus target price of $69.00.
Get Our Latest Report on BNS
Bank of Nova Scotia Stock Up 1.6 %
Shares of BNS traded up $0.88 on Tuesday, reaching $56.12. The company's stock had a trading volume of 1,918,832 shares, compared to its average volume of 1,788,986. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.61. Bank of Nova Scotia has a twelve month low of $41.80 and a twelve month high of $56.17. The stock has a market capitalization of $69.84 billion, a PE ratio of 13.43, a PEG ratio of 1.60 and a beta of 1.05. The firm has a fifty day moving average of $53.15 and a 200-day moving average of $49.25.
Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last posted its earnings results on Tuesday, August 27th. The bank reported $1.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.01. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. The company had revenue of $8.36 billion for the quarter, compared to analyst estimates of $8.53 billion. During the same quarter in the prior year, the business posted $1.30 EPS. The firm's revenue was up 3.7% compared to the same quarter last year. Equities analysts predict that Bank of Nova Scotia will post 4.79 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Mather Group LLC. boosted its holdings in Bank of Nova Scotia by 1,388.9% in the 2nd quarter. Mather Group LLC. now owns 536 shares of the bank's stock worth $25,000 after buying an additional 500 shares during the period. Blue Trust Inc. boosted its holdings in Bank of Nova Scotia by 3,127.8% in the 2nd quarter. Blue Trust Inc. now owns 581 shares of the bank's stock worth $27,000 after buying an additional 563 shares during the period. BNP Paribas Financial Markets boosted its holdings in Bank of Nova Scotia by 1,588.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank's stock worth $47,000 after buying an additional 810 shares during the period. City State Bank bought a new position in Bank of Nova Scotia in the 3rd quarter worth approximately $57,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Bank of Nova Scotia by 102.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,605 shares of the bank's stock worth $83,000 after buying an additional 811 shares during the period. 49.13% of the stock is owned by institutional investors.
About Bank of Nova Scotia
(
Get Free Report)
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.
Further Reading
Before you consider Bank of Nova Scotia, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bank of Nova Scotia wasn't on the list.
While Bank of Nova Scotia currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.