Bank of Nova Scotia (TSE:BNS) Sets New 1-Year High – Time to Buy?

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$106.39 and last traded at C$105.66, with a volume of 265649 shares traded. The stock had previously closed at C$105.75.

Analyst Ratings Changes

A number of brokerages have weighed in on BNS. Canaccord Genuity Group boosted their price objective on Bank of Nova Scotia from C$106.00 to C$112.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. BMO Capital Markets lifted their target price on shares of Bank of Nova Scotia from C$93.00 to C$98.00 in a report on Wednesday, December 17th. Jefferies Financial Group upped their price target on shares of Bank of Nova Scotia from C$97.00 to C$104.00 in a research report on Wednesday, February 11th. Canadian Imperial Bank of Commerce raised their price objective on shares of Bank of Nova Scotia from C$103.00 to C$108.00 and gave the stock a “neutral” rating in a research report on Friday, February 13th. Finally, TD Securities lifted their price objective on shares of Bank of Nova Scotia from C$104.00 to C$112.00 in a research note on Monday, February 9th. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of Nova Scotia currently has an average rating of “Hold” and a consensus target price of C$101.17.

Bank of Nova Scotia Trading Down 1.5%

The company has a market cap of C$128.77 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 1.33 and a beta of 1.33. The company’s 50 day moving average price is C$102.11 and its 200 day moving average price is C$94.13.

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

Insider Buying and Selling at Bank of Nova Scotia

In related news, insider Julie Walsh sold 3,716 shares of Bank of Nova Scotia 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 value of C$373,903.92. Following the sale, the insider directly owned 1,430 shares in the company, 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 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.