Desjardins Lifts Earnings Estimates for Bank of Nova Scotia

The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS - Investment analysts at Desjardins boosted their FY2025 EPS estimates for shares of Bank of Nova Scotia in a research note issued on Friday, November 1st. Desjardins analyst D. Young now expects that the bank will earn $5.15 per share for the year, up from their previous forecast of $5.08. The consensus estimate for Bank of Nova Scotia's current full-year earnings is $4.80 per share. Desjardins also issued estimates for Bank of Nova Scotia's FY2026 earnings at $5.83 EPS.

Other equities research analysts have also recently issued reports about the stock. TD Securities upgraded shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research report on Monday. Cibc World Mkts raised Bank of Nova Scotia from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $69.00.

Bank of Nova Scotia Trading Up 2.2 %

Shares of NYSE:BNS traded up $1.14 during midday trading on Monday, reaching $53.04. 1,857,163 shares of the company's stock were exchanged, compared to its average volume of 1,817,159. The firm's 50 day simple moving average is $52.21 and its two-hundred day simple moving average is $48.62. Bank of Nova Scotia has a fifty-two week low of $41.80 and a fifty-two week high of $55.12. 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 market cap of $65.64 billion, a price-to-earnings ratio of 12.42, a P/E/G ratio of 1.63 and a beta of 1.05.

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 (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.01. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. The company had revenue of $8.36 billion during the quarter, compared to analysts' expectations of $8.53 billion. During the same quarter last year, the firm earned $1.30 earnings per share. The firm's quarterly revenue was up 3.7% compared to the same quarter last year.

Institutional Trading of Bank of Nova Scotia

Several hedge funds have recently modified their holdings of BNS. Mather Group LLC. grew its position in shares of Bank of Nova Scotia by 1,388.9% during the second quarter. Mather Group LLC. now owns 536 shares of the bank's stock worth $25,000 after buying an additional 500 shares in the last quarter. Blue Trust Inc. increased its position in shares of Bank of Nova Scotia by 3,127.8% in the 2nd quarter. Blue Trust Inc. now owns 581 shares of the bank's stock valued at $27,000 after purchasing an additional 563 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Bank of Nova Scotia in the 1st quarter valued at $53,000. City State Bank purchased a new stake in shares of Bank of Nova Scotia during the 3rd quarter worth $57,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Bank of Nova Scotia by 102.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,605 shares of the bank's stock valued at $83,000 after buying an additional 811 shares during the last quarter. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd were given a $0.768 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $3.07 annualized dividend and a yield of 5.79%. Bank of Nova Scotia's dividend payout ratio is presently 74.88%.

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.