Bank of Nova Scotia (BNS) Rating Reiterated by Barclays

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Bank of Nova Scotia (NYSE:BNS) (TSE:BNS)‘s stock had its “buy” rating reiterated by Barclays in a note issued to investors on Friday, TipRanks reports.

Several other brokerages have also weighed in on BNS. CIBC lowered Bank of Nova Scotia from a “sector outperform” rating to a “neutral” rating in a report on Wednesday, February 27th. Zacks Investment Research raised Bank of Nova Scotia from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Desjardins reaffirmed an “average” rating and issued a $81.00 price target on shares of Bank of Nova Scotia in a report on Wednesday, February 27th. Finally, TD Securities lowered Bank of Nova Scotia from a “buy” rating to a “hold” rating in a report on Tuesday, February 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $79.50.

NYSE BNS traded down $0.04 on Friday, hitting $53.08. 341,500 shares of the stock traded hands, compared to its average volume of 747,781. Bank of Nova Scotia has a 12 month low of $48.34 and a 12 month high of $63.27. The firm has a market cap of $64.46 billion, a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 1.96 and a beta of 1.17. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.27.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Tuesday, February 26th. The bank reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.10). Bank of Nova Scotia had a net margin of 19.86% and a return on equity of 13.93%. The firm had revenue of $7.60 billion for the quarter, compared to the consensus estimate of $7.78 billion. During the same period last year, the company posted $1.74 earnings per share. Bank of Nova Scotia’s revenue for the quarter was up 7.3% on a year-over-year basis. Analysts forecast that Bank of Nova Scotia will post 5.36 EPS for the current year.

Several institutional investors have recently bought and sold shares of the company. Merit Financial Group LLC boosted its holdings in shares of Bank of Nova Scotia by 25.6% in the first quarter. Merit Financial Group LLC now owns 7,330 shares of the bank’s stock worth $390,000 after acquiring an additional 1,492 shares during the period. Lincluden Management Ltd. boosted its holdings in shares of Bank of Nova Scotia by 1.3% in the first quarter. Lincluden Management Ltd. now owns 1,351,736 shares of the bank’s stock worth $71,959,000 after acquiring an additional 16,770 shares during the period. FMR LLC boosted its holdings in shares of Bank of Nova Scotia by 3.1% in the first quarter. FMR LLC now owns 1,575,307 shares of the bank’s stock worth $83,861,000 after acquiring an additional 46,658 shares during the period. BlueCrest Capital Management Ltd bought a new position in shares of Bank of Nova Scotia in the first quarter worth $352,000. Finally, HighTower Advisors LLC boosted its holdings in shares of Bank of Nova Scotia by 11.8% in the first quarter. HighTower Advisors LLC now owns 17,007 shares of the bank’s stock worth $906,000 after acquiring an additional 1,801 shares during the period. 48.80% of the stock is owned by hedge funds and other institutional investors.

About Bank of Nova Scotia

The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.

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Analyst Recommendations for Bank of Nova Scotia (NYSE:BNS)

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