Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) was downgraded by stock analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a report released on Wednesday, Marketbeat.com reports.

A number of other brokerages also recently weighed in on BNS. Zacks Investment Research downgraded Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Wednesday, June 13th. Desjardins restated a “buy” rating on shares of Bank of Nova Scotia in a research note on Friday, June 8th. National Bank Financial downgraded Bank of Nova Scotia from an “outperform” rating to a “sector perform” rating in a research note on Friday, June 8th. ValuEngine downgraded Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Monday, June 11th. Finally, Royal Bank of Canada downgraded Bank of Nova Scotia from an “outperform” rating to a “sector perform” rating in a research note on Monday, June 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Bank of Nova Scotia currently has an average rating of “Hold” and a consensus price target of $84.33.

BNS stock opened at $58.38 on Wednesday. The stock has a market cap of $73.26 billion, a price-to-earnings ratio of 11.01, a P/E/G ratio of 1.75 and a beta of 1.28. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.05 and a quick ratio of 1.05. Bank of Nova Scotia has a 52-week low of $55.85 and a 52-week high of $66.78.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Tuesday, August 28th. The bank reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.39. The business had revenue of $7.18 billion during the quarter, compared to the consensus estimate of $7.34 billion. Bank of Nova Scotia had a return on equity of 14.91% and a net margin of 21.55%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.66 EPS. analysts forecast that Bank of Nova Scotia will post 5.43 EPS for the current year.

A number of institutional investors have recently bought and sold shares of BNS. Advisors Asset Management Inc. raised its holdings in Bank of Nova Scotia by 193.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,664 shares of the bank’s stock valued at $152,000 after acquiring an additional 1,757 shares during the period. BNP Paribas Arbitrage SA bought a new stake in Bank of Nova Scotia during the 2nd quarter valued at $200,000. Private Advisor Group LLC bought a new stake in Bank of Nova Scotia during the 2nd quarter valued at $230,000. Nwam LLC raised its holdings in Bank of Nova Scotia by 38.9% during the 2nd quarter. Nwam LLC now owns 5,235 shares of the bank’s stock valued at $300,000 after acquiring an additional 1,465 shares during the period. Finally, Lucia Wealth Services LLC bought a new stake in Bank of Nova Scotia during the 2nd quarter valued at $334,000. Institutional investors and hedge funds own 46.41% of the company’s stock.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various financial services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. It 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.

Read More: Asset Allocation and Your Retirement

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

Receive News & Ratings for Bank of Nova Scotia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Nova Scotia and related companies with MarketBeat.com's FREE daily email newsletter.