TD Securities upgraded shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) to a buy rating in a report released on Tuesday morning.

Several other analysts have also recently weighed in on BNS. Zacks Investment Research cut shares of Bank of Nova Scotia from a strong-buy rating to a hold rating in a report on Tuesday, November 1st. Canaccord Genuity reaffirmed a buy rating and issued a $75.00 target price (up previously from $73.00) on shares of Bank of Nova Scotia in a report on Thursday, September 1st. RBC Capital Markets reiterated an outperform rating and issued a $77.00 price target (up from $72.00) on shares of Bank of Nova Scotia in a research note on Wednesday, August 31st. Desjardins reiterated a buy rating and issued a $73.00 price target (up from $71.00) on shares of Bank of Nova Scotia in a research note on Thursday, September 1st. Finally, BMO Capital Markets reiterated a buy rating on shares of Bank of Nova Scotia in a research note on Thursday, September 1st. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $68.09.

Shares of Bank of Nova Scotia (NYSE:BNS) opened at 54.88 on Tuesday. The firm’s 50-day moving average is $53.41 and its 200 day moving average is $51.72. The firm has a market capitalization of $66.12 billion, a PE ratio of 13.12 and a beta of 1.29. Bank of Nova Scotia has a 52 week low of $35.01 and a 52 week high of $55.37.

Bank of Nova Scotia (NYSE:BNS) last issued its earnings results on Tuesday, November 29th. The company reported $1.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.06. The firm had revenue of $6.75 billion for the quarter. Bank of Nova Scotia had a net margin of 20.84% and a return on equity of 14.04%. During the same period last year, the business earned $1.45 EPS. On average, equities analysts forecast that Bank of Nova Scotia will post $4.37 earnings per share for the current year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. RS Investment Management Co. LLC increased its position in Bank of Nova Scotia by 13.2% in the second quarter. RS Investment Management Co. LLC now owns 7,679 shares of the company’s stock valued at $486,000 after buying an additional 893 shares during the period. John G Ullman & Associates Inc. increased its position in Bank of Nova Scotia by 83.1% in the second quarter. John G Ullman & Associates Inc. now owns 84,600 shares of the company’s stock valued at $4,146,000 after buying an additional 38,400 shares during the period. CIBC World Markets Inc. increased its position in Bank of Nova Scotia by 1.5% in the second quarter. CIBC World Markets Inc. now owns 51,002,714 shares of the company’s stock valued at $2,499,643,000 after buying an additional 777,443 shares during the period. Lingohr & Partner Asset Management GmbH increased its position in Bank of Nova Scotia by 328.5% in the second quarter. Lingohr & Partner Asset Management GmbH now owns 50,742 shares of the company’s stock valued at $2,487,000 after buying an additional 38,900 shares during the period. Finally, Checchi Capital Advisers LLC increased its position in Bank of Nova Scotia by 16.3% in the second quarter. Checchi Capital Advisers LLC now owns 5,710 shares of the company’s stock valued at $280,000 after buying an additional 800 shares during the period. 49.54% of the stock is owned by institutional investors and hedge funds.

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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