Raymond James Financial Issues Positive Forecast for Bank of Nova Scotia (TSE:BNS) Stock Price

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price objective raised by stock analysts at Raymond James Financial from C$109.00 to C$114.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the bank’s stock. Raymond James Financial’s target price indicates a potential upside of 9.57% from the stock’s current price.

BNS has been the subject of several other research reports. Canaccord Genuity Group raised their price objective on shares of Bank of Nova Scotia from C$106.00 to C$112.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Desjardins lifted their price objective on Bank of Nova Scotia from C$104.00 to C$106.00 and gave the company a “hold” rating in a research report on Monday, February 9th. Canadian Imperial Bank of Commerce increased their target price on Bank of Nova Scotia from C$103.00 to C$108.00 and gave the stock a “neutral” rating in a report on Friday. TD Securities upped their price target on shares of Bank of Nova Scotia from C$104.00 to C$112.00 in a research report on Monday, February 9th. Finally, BMO Capital Markets raised their price target on Bank of Nova Scotia from C$93.00 to C$98.00 in a report on Wednesday, December 17th. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$100.42.

Bank of Nova Scotia Price Performance

Shares of TSE BNS traded up C$0.88 during trading hours on Tuesday, reaching C$104.04. The stock had a trading volume of 870,025 shares, compared to its average volume of 4,498,741. The company has a market cap of C$128.63 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 1.33 and a beta of 1.33. The business’s fifty day moving average is C$101.76 and its two-hundred day moving average is C$93.34. Bank of Nova Scotia has a twelve month low of C$62.57 and a twelve month high of C$106.31.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its quarterly earnings results on Tuesday, December 2nd. The bank reported C$1.93 EPS for the quarter. The firm had revenue of C$9.77 billion during the quarter. Bank of Nova Scotia had a net margin of 17.68% and a return on equity of 9.64%. Sell-side analysts forecast that Bank of Nova Scotia will post 7.1286267 earnings per share for the current fiscal year.

Insider Buying and Selling

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