Desjardins Lowers Earnings Estimates for Bank of Nova Scotia

The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS - Desjardins reduced their Q1 2025 earnings estimates for shares of Bank of Nova Scotia in a research report issued to clients and investors on Tuesday, February 4th. Desjardins analyst D. Young now forecasts that the bank will post earnings per share of $1.12 for the quarter, down from their previous forecast of $1.18. The consensus estimate for Bank of Nova Scotia's current full-year earnings is $4.93 per share.

BNS has been the subject of a number of other reports. Royal Bank of Canada boosted their price objective on Bank of Nova Scotia from $65.00 to $74.00 and gave the company a "sector perform" rating in a research note on Wednesday, December 4th. Bank of America raised shares of Bank of Nova Scotia from a "neutral" rating to a "buy" rating in a research note on Tuesday, November 19th. TD Securities upgraded shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research note 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. Finally, Barclays raised Bank of Nova Scotia from an "underweight" rating to an "equal weight" rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.00.

Bank of Nova Scotia Stock Performance

NYSE:BNS traded up $0.01 during mid-day trading on Thursday, hitting $50.94. 1,056,196 shares of the company traded hands, compared to its average volume of 1,659,774. The stock's fifty day moving average price is $52.98 and its 200-day moving average price is $51.91. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. Bank of Nova Scotia has a one year low of $43.67 and a one year high of $57.07. The firm has a market cap of $63.45 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 1.15 and a beta of 1.07.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Tuesday, January 7th were given a $0.7535 dividend. The ex-dividend date of this dividend was Tuesday, January 7th. This represents a $3.01 annualized dividend and a yield of 5.92%. Bank of Nova Scotia's dividend payout ratio is currently 68.29%.

Institutional Investors Weigh In On Bank of Nova Scotia

Several large investors have recently added to or reduced their stakes in BNS. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Bank of Nova Scotia during the 4th quarter valued at $31,000. Allworth Financial LP increased its position in Bank of Nova Scotia by 121.1% during the fourth quarter. Allworth Financial LP now owns 639 shares of the bank's stock valued at $33,000 after acquiring an additional 350 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Bank of Nova Scotia by 1,588.2% in the third quarter. BNP Paribas Financial Markets now owns 861 shares of the bank's stock valued at $47,000 after acquiring an additional 810 shares during the period. City State Bank bought a new stake in shares of Bank of Nova Scotia in the 3rd quarter worth about $57,000. Finally, Fortitude Family Office LLC purchased a new position in shares of Bank of Nova Scotia during the 4th quarter worth about $73,000. 49.13% of the stock is owned by institutional investors.

About Bank of Nova Scotia

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.