The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS - Equities researchers at Desjardins lifted their FY2025 earnings per share (EPS) estimates for shares of Bank of Nova Scotia in a research note issued on Tuesday, February 25th. Desjardins analyst D. Young now anticipates that the bank will post earnings per share of $5.04 for the year, up from their previous forecast of $5.01. The consensus estimate for Bank of Nova Scotia's current full-year earnings is $4.91 per share.
BNS has been the topic of a number of other research reports. TD Securities upgraded Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Monday, November 4th. Canaccord Genuity Group raised Bank of Nova Scotia from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. Canaccord Genuity Group raised Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th. Bank of America upgraded shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research report on Tuesday, November 19th. Finally, CIBC restated a "neutral" rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $75.50.
Read Our Latest Research Report on Bank of Nova Scotia
Bank of Nova Scotia Price Performance
Bank of Nova Scotia stock traded down $0.80 during mid-day trading on Friday, reaching $48.55. The company had a trading volume of 2,773,768 shares, compared to its average volume of 1,883,570. The stock's 50-day simple moving average is $51.55 and its 200-day simple moving average is $52.50. Bank of Nova Scotia has a 1 year low of $43.67 and a 1 year high of $57.07. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $60.47 billion, a P/E ratio of 11.24, a P/E/G ratio of 1.16 and a beta of 1.07.
Institutional Investors Weigh In On Bank of Nova Scotia
Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Bank of Nova Scotia during the fourth quarter worth approximately $690,746,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Bank of Nova Scotia by 260.1% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,480,486 shares of the bank's stock worth $298,575,000 after purchasing an additional 3,958,580 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Bank of Nova Scotia by 24.9% during the third 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. Toronto Dominion Bank grew its position in shares of Bank of Nova Scotia by 9.6% in the third quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank's stock valued at $1,361,752,000 after purchasing an additional 2,195,604 shares during the period. Finally, Zurich Insurance Group Ltd FI acquired a new position in Bank of Nova Scotia in the fourth quarter valued at $96,529,000. 49.13% of the stock is currently owned by hedge funds and other institutional investors.
Bank of Nova Scotia Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be issued a $0.7415 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a yield of 6.11%. Bank of Nova Scotia's dividend payout ratio (DPR) is 82.20%.
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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