Bank of Nova Scotia (TSE:BNS) Reaches New 12-Month High – Time to Buy?

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$103.34 and last traded at C$102.49, with a volume of 894559 shares changing hands. The stock had previously closed at C$102.64.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BNS shares. Canaccord Genuity Group raised their target price on shares of Bank of Nova Scotia from C$98.00 to C$100.00 in a report on Wednesday, December 3rd. Barclays raised their price objective on shares of Bank of Nova Scotia from C$95.00 to C$97.00 in a report on Wednesday, December 3rd. Desjardins lifted their price objective on shares of Bank of Nova Scotia from C$100.00 to C$104.00 and gave the stock a “hold” rating in a research report on Thursday, December 18th. BMO Capital Markets increased their target price on Bank of Nova Scotia from C$93.00 to C$98.00 in a report on Wednesday, December 17th. Finally, Jefferies Financial Group raised their price target on Bank of Nova Scotia from C$86.00 to C$96.00 in a research note on Tuesday, November 25th. Three analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$94.83.

Bank of Nova Scotia Stock Performance

The stock’s 50-day moving average is C$99.51 and its 200 day moving average is C$90.29. The stock has a market capitalization of C$127.34 billion, a PE ratio of 18.17, a P/E/G ratio of 1.33 and a beta of 1.37.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings data on Tuesday, December 2nd. The bank reported C$1.93 earnings per share (EPS) for the quarter. The company had revenue of C$9.77 billion during the quarter. Bank of Nova Scotia had a net margin of 17.68% and a return on equity of 9.64%. Analysts expect that The Bank of Nova Scotia will post 7.1286267 earnings per share for the current year.

Insider Activity

In related news, insider Julie Walsh sold 3,716 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of C$100.62, for a total transaction of C$373,903.92. Following the transaction, the insider owned 1,430 shares in the company, valued at C$143,886.60. This trade represents a 72.21% decrease in their position. 0.03% of the stock is currently owned by company insiders.

About Bank of Nova Scotia

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It 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. The bank’s international operations span numerous countries and are more concentrated in Central and South America.