Bank of Nova Scotia (NYSE:BNS) Stock Rating Upgraded by Barclays

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) was upgraded by research analysts at Barclays from an “underweight” rating to an “equal weight” rating in a research note issued to investors on Thursday,Briefing.com Automated Import reports.

A number of other research firms have also recently issued reports on BNS. Cibc World Mkts raised Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 20th. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday. TD Securities raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.00.

Bank of Nova Scotia Trading Up 0.3 %

BNS opened at $56.30 on Thursday. Bank of Nova Scotia has a twelve month low of $41.80 and a twelve month high of $56.44. The firm has a market cap of $70.06 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.67 and a beta of 1.05. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.02 and a current ratio of 1.02. The firm’s fifty day moving average is $53.24 and its two-hundred day moving average is $49.29.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its earnings results on Tuesday, August 27th. The bank reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.01. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. The firm had revenue of $8.36 billion for the quarter, compared to analyst estimates of $8.53 billion. During the same period in the previous year, the company posted $1.30 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts anticipate that Bank of Nova Scotia will post 4.75 EPS for the current year.

Institutional Trading of Bank of Nova Scotia

Several institutional investors and hedge funds have recently bought and sold shares of BNS. Rathbones Group PLC grew its stake in Bank of Nova Scotia by 11.8% in the second quarter. Rathbones Group PLC now owns 136,337 shares of the bank’s stock valued at $6,235,000 after purchasing an additional 14,379 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Bank of Nova Scotia by 2,455.8% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,521,906 shares of the bank’s stock valued at $69,627,000 after buying an additional 1,462,360 shares in the last quarter. Intact Investment Management Inc. increased its holdings in Bank of Nova Scotia by 48.3% during the third quarter. Intact Investment Management Inc. now owns 1,563,594 shares of the bank’s stock worth $85,201,000 after buying an additional 509,120 shares during the last quarter. Mackenzie Financial Corp raised its position in Bank of Nova Scotia by 4.7% during the second quarter. Mackenzie Financial Corp now owns 15,091,880 shares of the bank’s stock worth $690,438,000 after acquiring an additional 683,946 shares in the last quarter. Finally, Pathway Financial Advisers LLC lifted its stake in Bank of Nova Scotia by 5,380.9% in the third quarter. Pathway Financial Advisers LLC now owns 3,972,234 shares of the bank’s stock valued at $216,447,000 after acquiring an additional 3,899,760 shares during the last quarter. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.