Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) received a $87.00 price target from analysts at Canaccord Genuity in a report issued on Tuesday. The firm currently has a “buy” rating on the bank’s stock. Canaccord Genuity’s price target indicates a potential upside of 41.26% from the company’s current price.

BNS has been the topic of a number of other reports. Zacks Investment Research lowered Bank of Nova Scotia (The) from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Royal Bank Of Canada lifted their target price on Bank of Nova Scotia (The) from $86.00 to $87.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 31st. BidaskClub raised Bank of Nova Scotia (The) from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. Barclays PLC raised Bank of Nova Scotia (The) from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, May 23rd. Finally, National Bank Financial reaffirmed an “outperform overweight” rating on shares of Bank of Nova Scotia (The) in a research report on Thursday, May 18th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Bank of Nova Scotia (The) presently has an average rating of “Buy” and an average target price of $77.33.

Bank of Nova Scotia (BNS) opened at 61.59 on Tuesday. The stock’s 50 day moving average price is $61.64 and its 200-day moving average price is $59.16. Bank of Nova Scotia has a 52-week low of $51.21 and a 52-week high of $63.07. The company has a market cap of $74.02 billion, a P/E ratio of 12.42 and a beta of 1.26.

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Tuesday, August 29th. The bank reported $1.27 EPS for the quarter, missing the consensus estimate of $1.65 by $0.38. Bank of Nova Scotia (The) had a net margin of 22.17% and a return on equity of 14.45%. The company had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period last year, the business earned $1.54 earnings per share. On average, equities analysts predict that Bank of Nova Scotia will post $5.21 earnings per share for the current fiscal year.

Bank of Nova Scotia (The) declared that its board has approved a share buyback program on Tuesday, May 30th that permits the company to repurchase 24,000,000 shares. This repurchase authorization permits the bank to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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A number of institutional investors have recently bought and sold shares of BNS. OMERS ADMINISTRATION Corp increased its position in Bank of Nova Scotia (The) by 5.3% in the second quarter. OMERS ADMINISTRATION Corp now owns 3,406,680 shares of the bank’s stock worth $204,632,000 after buying an additional 170,800 shares during the period. Creative Planning increased its position in Bank of Nova Scotia (The) by 7.8% in the second quarter. Creative Planning now owns 14,383 shares of the bank’s stock worth $865,000 after buying an additional 1,044 shares during the period. Aperio Group LLC increased its position in Bank of Nova Scotia (The) by 4.5% in the second quarter. Aperio Group LLC now owns 761,623 shares of the bank’s stock worth $45,796,000 after buying an additional 32,822 shares during the period. DORCHESTER WEALTH MANAGEMENT Co increased its position in Bank of Nova Scotia (The) by 0.7% in the second quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 452,542 shares of the bank’s stock worth $27,204,000 after buying an additional 3,223 shares during the period. Finally, Comerica Bank increased its position in Bank of Nova Scotia (The) by 2.2% in the first quarter. Comerica Bank now owns 69,806 shares of the bank’s stock worth $3,862,000 after buying an additional 1,517 shares during the period. Institutional investors and hedge funds own 45.12% of the company’s stock.

About Bank of Nova Scotia (The)

The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank 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.

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

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