Bank of Nova Scotia (TSE:BNS) Price Target Raised to C$108.00

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price target increased by stock analysts at CIBC World Markets from C$103.00 to C$108.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage presently has a “neutral” rating on the bank’s stock. CIBC World Markets’ price target suggests a potential upside of 5.13% from the company’s previous close.

Several other research firms also recently weighed in on BNS. BMO Capital Markets raised their price objective on Bank of Nova Scotia from C$93.00 to C$98.00 in a research note on Wednesday, December 17th. Desjardins raised their price target on Bank of Nova Scotia from C$104.00 to C$106.00 and gave the company a “hold” rating in a research report on Monday. TD Securities lifted their price target on Bank of Nova Scotia from C$104.00 to C$112.00 in a research note on Monday. Raymond James Financial set a C$108.00 price objective on shares of Bank of Nova Scotia and gave the company an “outperform” rating in a research note on Tuesday, November 25th. Finally, Canaccord Genuity Group raised their target price on shares of Bank of Nova Scotia from C$106.00 to C$112.00 and gave the company a “buy” rating in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Bank of Nova Scotia has an average rating of “Hold” and an average target price of C$98.54.

Bank of Nova Scotia Trading Down 0.5%

Shares of BNS traded down C$0.55 during trading hours on Friday, reaching C$102.73. The company had a trading volume of 986,294 shares, compared to its average volume of 4,584,283. Bank of Nova Scotia has a 12-month low of C$62.57 and a 12-month high of C$106.31. The firm has a 50 day simple moving average of C$101.61 and a 200-day simple moving average of C$92.76. The company has a market capitalization of C$127.01 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 1.33 and a beta of 1.33.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its earnings results on Tuesday, December 2nd. The bank reported C$1.93 earnings per share for the quarter. Bank of Nova Scotia had a net margin of 17.68% and a return on equity of 9.64%. The company had revenue of C$9.77 billion for the quarter. Sell-side analysts forecast that Bank of Nova Scotia will post 7.1286267 earnings per share for the current year.

Insider Activity

In other news, insider Julie Walsh sold 3,716 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of C$100.62, for a total value of C$373,903.92. Following the completion of the transaction, the insider owned 1,430 shares of the company’s stock, valued at C$143,886.60. The trade was a 72.21% decrease in their ownership of the stock. 0.03% of the stock is owned by corporate 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.