Bank of Nova Scotia (The) (NYSE:BNS) Receives Average Rating of “Hold” from Analysts

Shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) have been given a consensus recommendation of “Hold” by the five analysts that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $117.00.

A number of research firms recently weighed in on BNS. Canaccord Genuity Group lowered shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Royal Bank Of Canada upped their target price on Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a research note on Thursday, May 28th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of Nova Scotia in a report on Friday, May 22nd.

Bank of Nova Scotia Trading Down 0.0%

Shares of BNS opened at $85.36 on Monday. Bank of Nova Scotia has a twelve month low of $54.31 and a twelve month high of $87.97. The company has a market cap of $104.57 billion, a P/E ratio of 16.29, a P/E/G ratio of 1.06 and a beta of 1.11. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.69. The company’s fifty day simple moving average is $81.05 and its 200-day simple moving average is $76.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Wednesday, May 27th. The bank reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.05. The firm had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $7.13 billion. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.52 EPS. As a group, analysts expect that Bank of Nova Scotia will post 6.01 EPS for the current year.

Institutional Trading of Bank of Nova Scotia

Hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC grew its holdings in shares of Bank of Nova Scotia by 111.2% in the first quarter. AQR Capital Management LLC now owns 19,096 shares of the bank’s stock worth $911,000 after purchasing an additional 10,056 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Bank of Nova Scotia during the 2nd quarter valued at about $330,000. EverSource Wealth Advisors LLC lifted its holdings in Bank of Nova Scotia by 42.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,165 shares of the bank’s stock valued at $120,000 after buying an additional 649 shares in the last quarter. Sei Investments Co. boosted its position in Bank of Nova Scotia by 2.1% in the 2nd quarter. Sei Investments Co. now owns 21,212 shares of the bank’s stock valued at $1,172,000 after buying an additional 434 shares during the period. Finally, Quantinno Capital Management LP boosted its position in Bank of Nova Scotia by 61.1% in the 2nd quarter. Quantinno Capital Management LP now owns 66,962 shares of the bank’s stock valued at $3,701,000 after buying an additional 25,400 shares during the period. Hedge funds and other institutional investors own 49.13% of the company’s stock.

About Bank of Nova Scotia

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada’s largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.

Scotiabank’s core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.