Bank of Nova Scotia (TSE:BNS) Given New C$109.00 Price Target at Canadian Imperial Bank of Commerce

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price hoisted by analysts at Canadian Imperial Bank of Commerce from C$108.00 to C$109.00 in a research note issued on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price objective points to a potential upside of 9.54% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Desjardins upped their price target on Bank of Nova Scotia from C$106.00 to C$107.00 and gave the stock a “hold” rating in a research note on Wednesday, February 25th. UBS Group boosted their target price on Bank of Nova Scotia from C$118.00 to C$120.00 in a report on Wednesday, February 25th. Raymond James Financial increased their price target on Bank of Nova Scotia from C$114.00 to C$117.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. National Bank Financial decreased their price objective on shares of Bank of Nova Scotia from C$102.00 to C$100.00 and set a “sector perform” rating for the company in a report on Wednesday, February 25th. Finally, Jefferies Financial Group raised their target price on shares of Bank of Nova Scotia from C$97.00 to C$104.00 in a research note on Wednesday, February 11th. Two research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$107.42.

Bank of Nova Scotia Stock Down 2.0%

BNS stock traded down C$2.02 during trading hours on Thursday, hitting C$99.51. The company’s stock had a trading volume of 1,858,906 shares, compared to its average volume of 4,312,455. The stock has a 50 day moving average price of C$102.58 and a two-hundred day moving average price of C$95.44. Bank of Nova Scotia has a 12 month low of C$62.57 and a 12 month high of C$106.39. The company has a market capitalization of C$123.02 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 1.33 and a beta of 1.33.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings data on Tuesday, December 2nd. The bank reported C$1.93 earnings per share (EPS) for the quarter. The business had revenue of C$9.77 billion during the quarter. Bank of Nova Scotia had a net margin of 16.48% and a return on equity of 10.42%. Sell-side analysts expect that Bank of Nova Scotia will post 7.1286267 earnings per share for the current year.

Insider Activity

In other news, insider Julie Walsh sold 3,716 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of C$100.62, for a total value of C$373,903.92. Following the sale, the insider owned 1,430 shares in the company, valued at approximately C$143,886.60. This trade represents a 72.21% decrease in their ownership of the stock. Insiders own 0.03% of the company’s stock.

Bank of Nova Scotia Company Profile

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It offers a range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. The bank’s international operations span numerous countries and are more concentrated in Central and South America.