Bank of Nova Scotia (TSE:BNS) Price Target Raised to C$106.00

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price objective raised by investment analysts at Desjardins from C$104.00 to C$106.00 in a research note issued to investors on Monday,BayStreet.CA reports. The firm presently has a “hold” rating on the bank’s stock. Desjardins’ target price would suggest a potential upside of 0.90% from the stock’s current price.

A number of other equities analysts have also commented on the stock. Barclays raised their price objective on shares of Bank of Nova Scotia from C$95.00 to C$97.00 in a research report on Wednesday, December 3rd. Jefferies Financial Group boosted their price target on shares of Bank of Nova Scotia from C$86.00 to C$96.00 in a research report on Tuesday, November 25th. Canaccord Genuity Group increased their price objective on Bank of Nova Scotia from C$98.00 to C$100.00 in a research report on Wednesday, December 3rd. TD Securities lifted their price objective on Bank of Nova Scotia from C$93.00 to C$99.00 in a research note on Monday, November 10th. Finally, BMO Capital Markets upped their target price on Bank of Nova Scotia from C$93.00 to C$98.00 in a research note on Wednesday, December 17th. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$96.08.

Bank of Nova Scotia Price Performance

TSE:BNS traded up C$0.75 on Monday, reaching C$105.05. 1,164,207 shares of the company’s stock were exchanged, compared to its average volume of 4,714,569. The firm has a market cap of C$129.87 billion, a price-to-earnings ratio of 18.53, a P/E/G ratio of 1.33 and a beta of 1.33. The stock has a fifty day simple moving average of C$101.05 and a 200-day simple moving average of C$92.21. Bank of Nova Scotia has a 52 week low of C$62.57 and a 52 week high of C$105.20.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings data on Tuesday, December 2nd. The bank reported C$1.93 EPS for the quarter. Bank of Nova Scotia had a net margin of 17.68% and a return on equity of 9.64%. The company had revenue of C$9.77 billion during the quarter. As a group, sell-side analysts predict that Bank of Nova Scotia will post 7.1286267 EPS for the current year.

Insider Transactions at Bank of Nova Scotia

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

About Bank of Nova Scotia

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.