According to Zacks, “The Bank of Nova Scotia is one of North America’s premier financial institutions and Canada’s most international bank. It offers a diverse range of products and services, including personal, commercial, corporate and investment banking services. Scotiabank has created long-term value and delivered consistent earnings growth by leveraging its core strengths and performing exceptionally well in its core businesses including national banking, wealth management, international banking and Scotia Capital. “
Other research analysts have also published research reports on the stock. Fundamental Research raised its target price for Bank of Nova Scotia stocks from $ 85 to $ 87.68 and rated the stock “buy” in a research note on Wednesday, September 1. Royal Bank of Canada raised its price target for the Bank of Nova Scotia shares from C $ 86.00 to C $ 89.00 and assigned the share an “outperformance” rating in a rating of Cdn $ 89.00. search Wednesday August 25. CIBC raised its price target for Bank of Nova Scotia shares from C $ 91.00 to C $ 92.00 in a research note on Wednesday, June 23. Barclays downgraded Bank of Nova Scotia shares from an “underweight” to an “equal weight” rating and raised its target price for the share from $ 82.00 to 87.00 $ in a research note on Tuesday June 8. Finally, Credit Suisse Group lowered its price target for Bank of Nova Scotia shares from C $ 85.00 to C $ 84.00 and established a “neutral” rating on the share in a rating of Cdn $ 84.00. search Wednesday August 25. Five analysts rated the stock with a conservation rating and seven issued a buy rating for the stock. Based on MarketBeat data, the stock currently has an average rating of “Buy” and an average price target of $ 85.06.
Actions of Bank of Nova Scotia Stocks traded down $ 0.23 at midday on Wednesday, reaching $ 61.63. 1,052,510 shares of the stock were traded, for an average volume of 1,327,593. The company has a market capitalization of $ 74.89 billion, a price / earnings ratio of 10.97, a price / earnings-growth ratio 0.73 and a beta of 0.94. The company has a current ratio of 1.07, a quick ratio of 1.07, and a debt ratio of 0.42. The company has a 50-day simple moving average of $ 62.43 and a 200-day simple moving average of $ 63.54. The Bank of Nova Scotia has a fifty-two week low of $ 40.28 and a fifty-two week high of $ 68.02.
The Bank of Nova Scotia (NYSE: BNS) (TSE: BNS) last released its quarterly earnings data on Monday, August 23. The bank reported earnings per share of $ 2.01 for the quarter, beating the consensus estimate of $ 1.50 by $ 0.51. The company posted revenue of $ 7.76 billion in the quarter, compared to $ 7.77 billion expected by analysts. The Bank of Nova Scotia had a net margin of 22.86% and a return on equity of 13.87%. The company’s quarterly revenue increased 0.3% compared to the same quarter last year. In the same quarter of last year, the company posted EPS of $ 1.04. On average, research analysts predict the Bank of Nova Scotia will post 6.02 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently changed their holdings in SNBs. FIL Ltd strengthened its position in The Bank of Nova Scotia by 336.6% during the first quarter. FIL Ltd now owns 24,011,963 shares of the bank valued at $ 1,502,205,000 after purchasing an additional 18,511,721 shares during the period. CIBC Asset Management Inc. increased its position in The Bank of Nova Scotia by 23.1% during the first quarter. CIBC Asset Management Inc. now owns 8,886,205 shares of the bank valued at $ 555,484,000 after purchasing an additional 1,667,525 shares during the period. Invesco Ltd. increased its position in The Bank of Nova Scotia by 32.3% in the second quarter. Invesco Ltd. now owns 6,427,666 shares of the bank valued at $ 418,248,000 after purchasing an additional 1,569,098 shares during the period. JPMorgan Chase & Co. strengthened its position in The Bank of Nova Scotia by 27.1% in the second quarter. JPMorgan Chase & Co. now owns 4,873,915 shares of the bank valued at $ 317,145,000 after purchasing an additional 1,039,867 shares during the period. Finally, Mufg Securities Canada LTD. increased its position in The Bank of Nova Scotia by 21.5% in the second quarter. Mufg Canada Securities LTD. now owns 5,645,897 shares of the bank valued at $ 367,593,000 after purchasing an additional 1,000,598 shares during the period. Institutional investors and hedge funds hold 45.47% of the company’s shares.
About the Bank of Nova Scotia
The Bank of Nova Scotia provides financial products and services, including personal, business, corporate and investment banking services. It operates in the following segments: Canadian Banking, International Banking, Global Banking and Markets and Others. The Others segment includes group treasury, smaller operating segments and line-of-business elimination items.
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