Zacks Investment Research upgraded shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) from a sell rating to a hold rating in a research note issued to investors on Friday.

According to Zacks, “Bank of Nova Scotia is one of North America’s premier financial institutions and Canada’s most international bank. They offer a diverse range of products and services including personal, commercial, corporate and investment banking. Scotiabank has built long-term value and recorded consistent earnings growth by building on its core strengths and by executing exceptionally well in its core businesses. These include Domestic Banking, Wealth Management, International Banking and Scotia Capital. “

Several other equities analysts have also commented on BNS. Dundee Securities initiated coverage on shares of Bank of Nova Scotia in a research report on Wednesday, September 21st. They set a buy rating for the company. BMO Capital Markets restated a buy rating on shares of Bank of Nova Scotia in a research report on Thursday, September 1st. Desjardins restated a buy rating and set a $73.00 price target (up previously from $71.00) on shares of Bank of Nova Scotia in a research report on Thursday, September 1st. Canaccord Genuity restated a buy rating and set a $75.00 price target (up previously from $73.00) on shares of Bank of Nova Scotia in a research report on Thursday, September 1st. Finally, TD Securities restated a buy rating and set a $74.00 price target (up previously from $70.00) on shares of Bank of Nova Scotia in a research report on Wednesday, August 31st. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Bank of Nova Scotia presently has an average rating of Buy and a consensus price target of $68.09.

Bank of Nova Scotia (NYSE:BNS) opened at 53.94 on Friday. The stock has a market capitalization of $64.99 billion, a P/E ratio of 12.90 and a beta of 1.29. Bank of Nova Scotia has a 12-month low of $35.01 and a 12-month high of $55.14. The firm’s 50-day moving average is $53.37 and its 200 day moving average is $51.64.

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Several institutional investors have recently modified their holdings of BNS. LPL Financial LLC increased its position in shares of Bank of Nova Scotia by 9.1% in the third quarter. LPL Financial LLC now owns 5,859 shares of the company’s stock worth $308,000 after buying an additional 488 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of Bank of Nova Scotia during the third quarter worth $207,000. Candriam Luxembourg S.C.A. increased its position in shares of Bank of Nova Scotia by 10.0% in the third quarter. Candriam Luxembourg S.C.A. now owns 51,333 shares of the company’s stock worth $2,715,000 after buying an additional 4,682 shares in the last quarter. Lombard Odier Asset Management Europe Ltd acquired a new position in shares of Bank of Nova Scotia during the third quarter worth $1,303,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Bank of Nova Scotia by 14.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,985,835 shares of the company’s stock worth $634,016,000 after buying an additional 1,557,194 shares in the last quarter. Institutional investors own 49.54% of the company’s stock.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia (Scotiabank or the Bank) is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and parts of Asia. The Company’s segments include Canadian Banking, International Banking, Global Banking and Markets (GBM), and Other.

5 Day Chart for NYSE:BNS

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