Bank of America – The Bank of Nova Scotia (NYSE:BNS) Ranking Elevated to Maintain at Zacks Funding Analysis

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) was upgraded by Zacks Funding Analysis from a “promote” score to a “maintain” score in a analysis report issued to shoppers and traders on Monday, Zacks.com experiences.

In keeping with Zacks, “Bank of Nova Scotia is certainly one of North America’s premier monetary establishments and Canada’s most worldwide bank. They provide a various vary of services together with private, business, company and funding banking. Scotiabank has constructed long-term value and recorded constant earnings progress by constructing on its core strengths and by executing exceptionally properly in its core companies. These embrace Home Banking, Wealth Administration, Worldwide Banking and Scotia Capital. “

Different analysis analysts have additionally issued experiences concerning the stock. Basic Analysis began protection on shares of The Bank of Nova Scotia in a report on Wednesday, September 2nd. They issued a “purchase” score and a $66.04 goal price for the corporate. ValuEngine raised shares of The Bank of Nova Scotia from a “promote” score to a “maintain” score in a report on Tuesday, November third. Bank of America raised shares of The Bank of Nova Scotia from a “impartial” score to a “purchase” score and set a $68.00 goal price for the corporate in a report on Tuesday, October sixth. Royal Bank of Canada lower their goal price on shares of The Bank of Nova Scotia from $64.00 to $61.00 and set a “sector carry out” score for the corporate in a report on Wednesday, August 26th. Lastly, Credit score Suisse Group lower their goal price on shares of The Bank of Nova Scotia from $56.00 to $55.00 and set a “impartial” score for the corporate in a report on Wednesday, August 26th. One funding analyst has rated the stock with a promote score, seven have issued a maintain score and 4 have given a purchase score to the stock. The stock presently has a median score of “Maintain” and a median goal price of $62.32.

BNS traded up $0.33 throughout buying and selling on Monday, reaching $48.84. 1,082,766 shares of the corporate traded fingers, in comparison with its common quantity of 1,424,062. The corporate has a debt-to-equity ratio of 0.38, a fast ratio of 1.04 and a present ratio of 1.04. The Bank of Nova Scotia has a 12-month low of $31.94 and a 12-month excessive of $57.27. The agency has a fifty day easy transferring common of $43.51 and a 200 day easy transferring common of $41.84. The corporate has a market cap of $59.17 billion, a P/E ratio of 11.68, a PEG ratio of two.01 and a beta of 0.91.

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) final introduced its quarterly earnings information on Tuesday, August 25th. The bank reported $1.04 earnings per share (EPS) for the quarter, lacking analysts’ consensus estimates of $1.11 by ($0.07). The Bank of Nova Scotia had a internet margin of 15.72% and a return on fairness of 11.11%. The corporate had income of $7.73 billion for the quarter, in comparison with analysts’ expectations of $7.93 billion. Throughout the identical interval final yr, the enterprise earned $1.88 earnings per share. The corporate’s quarterly income was up 1.0% in comparison with the identical quarter final yr. As a bunch, sell-side analysts anticipate that The Bank of Nova Scotia will publish 4.02 earnings per share for the present fiscal yr.

A lot of hedge funds and different institutional traders have lately purchased and offered shares of BNS. Toronto Dominion Bank lifted its place in shares of The Bank of Nova Scotia by 28.9% through the second quarter. Toronto Dominion Bank now owns 24,024,153 shares of the bank’s stock worth $995,222,00Zero after buying a further 5,380,755 shares over the last quarter. First Belief Advisors LP lifted its place in shares of The Bank of Nova Scotia by 15.9% through the third quarter. First Belief Advisors LP now owns 1,278,459 shares of the bank’s stock worth $53,069,00Zero after buying a further 175,198 shares over the last quarter. BI Asset Administration Fondsmaeglerselskab A S purchased a brand new stake in shares of The Bank of Nova Scotia through the second quarter worth $1,003,000. Nexus Funding Administration ULC lifted its place in shares of The Bank of Nova Scotia by 0.6% through the third quarter. Nexus Funding Administration ULC now owns 554,881 shares of the bank’s stock worth $23,034,00Zero after buying a further 3,516 shares over the last quarter. Lastly, Bank of New York Mellon Corp lifted its place in shares of The Bank of Nova Scotia by 1.7% through the second quarter. Bank of New York Mellon Corp now owns 1,616,971 shares of the bank’s stock worth $66,684,00Zero after buying a further 27,366 shares over the last quarter. 40.79% of the stock is owned by institutional traders.

The Bank of Nova Scotia Firm Profile

The Bank of Nova Scotia gives numerous banking services in Canada, the USA, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates by way of Canadian Banking, Worldwide Banking, World Banking and Markets, and World Wealth Administration segments.

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