Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) – Equities research analysts at Desjardins increased their FY2017 earnings estimates for Bank of Nova Scotia (The) in a research report issued to clients and investors on Tuesday. Desjardins analyst D. Young now anticipates that the bank will earn $5.22 per share for the year, up from their previous forecast of $5.14. Desjardins also issued estimates for Bank of Nova Scotia (The)’s FY2018 earnings at $5.52 EPS.

Other research analysts have also issued research reports about the company. Bank of America Corporation increased their price target on Bank of Nova Scotia (The) from $81.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, May 31st. Zacks Investment Research upgraded Bank of Nova Scotia (The) from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a report on Tuesday, July 18th. Canaccord Genuity assumed coverage on Bank of Nova Scotia (The) in a report on Tuesday, July 18th. They issued a “buy” rating on the stock. BidaskClub upgraded Bank of Nova Scotia (The) from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Finally, Scotiabank reiterated a “buy” rating and issued a $88.00 price target on shares of Bank of Nova Scotia (The) in a report on Wednesday. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Bank of Nova Scotia (The) currently has an average rating of “Buy” and a consensus price target of $77.33.

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Bank of Nova Scotia (BNS) opened at 62.11 on Thursday. The stock has a 50 day moving average price of $61.64 and a 200-day moving average price of $59.16. Bank of Nova Scotia has a one year low of $51.21 and a one year high of $63.07. The firm has a market cap of $74.65 billion, a P/E ratio of 12.29 and a beta of 1.26.

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) last issued its earnings results on Tuesday, August 29th. The bank reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by $0.38. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.28 billion. Bank of Nova Scotia (The) had a net margin of 22.17% and a return on equity of 14.45%. During the same quarter in the prior year, the company earned $1.54 EPS.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership raised its position in Bank of Nova Scotia (The) by 481.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 6,001,634 shares of the bank’s stock worth $360,796,000 after buying an additional 4,969,752 shares in the last quarter. Credit Suisse AG raised its position in Bank of Nova Scotia (The) by 135.2% in the first quarter. Credit Suisse AG now owns 4,979,811 shares of the bank’s stock worth $291,668,000 after buying an additional 2,862,657 shares in the last quarter. Public Sector Pension investment Board raised its position in Bank of Nova Scotia (The) by 13,160.8% in the second quarter. Public Sector Pension investment Board now owns 2,380,451 shares of the bank’s stock worth $142,988,000 after buying an additional 2,362,500 shares in the last quarter. Investec Asset Management LTD bought a new position in Bank of Nova Scotia (The) during the first quarter worth $127,792,000. Finally, Canada Pension Plan Investment Board raised its position in Bank of Nova Scotia (The) by 787.4% in the second quarter. Canada Pension Plan Investment Board now owns 2,312,474 shares of the bank’s stock worth $138,905,000 after buying an additional 2,051,874 shares in the last quarter. Institutional investors own 45.12% of the company’s stock.

Bank of Nova Scotia (The) declared that its board has authorized a share buyback plan on Tuesday, May 30th that authorizes the company to repurchase 24,000,000 outstanding shares. This repurchase authorization authorizes the bank to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Tuesday, October 3rd will be issued a $0.6294 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date is Monday, October 2nd. This is a positive change from Bank of Nova Scotia (The)’s previous quarterly dividend of $0.56. Bank of Nova Scotia (The)’s dividend payout ratio (DPR) is currently 46.30%.

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.

Earnings History and Estimates for Bank of Nova Scotia (The) (NYSE:BNS)

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