Recent Investment Analysts’ Ratings Changes for Bank of Nova Scotia (BNS)

Bank of Nova Scotia (NYSE: BNS) has recently received a number of price target changes and ratings updates:

• 11/21/2024 – Bank of Nova Scotia was upgraded by analysts at Barclays PLC from an “underweight” rating to an “equal weight” rating.
• 11/19/2024 – Bank of Nova Scotia was upgraded by analysts at Canaccord Genuity Group Inc. from a “hold” rating to a “buy” rating.
• 11/19/2024 – Bank of Nova Scotia was upgraded by analysts at Canaccord Genuity Group Inc. from a “hold” rating to a “buy” rating.
• 11/19/2024 – Bank of Nova Scotia was upgraded by analysts at Bank of America Co. from a “neutral” rating to a “buy” rating.
• 11/18/2024 – Bank of Nova Scotia was upgraded by analysts at UBS Group AG from a “neutral” rating to a “buy” rating.
• 11/4/2024 – Bank of Nova Scotia was upgraded by analysts at TD Securities from a “hold” rating to a “buy” rating.

Bank of Nova Scotia Price Performance

Shares of BNS stock traded up $0.16 during trading hours on Friday, hitting $56.38. The stock had a trading volume of 316,766 shares, compared to its average volume of 1,777,050. The stock’s 50-day moving average price is $53.33 and its two-hundred day moving average price is $49.34. The Bank of Nova Scotia has a one year low of $41.80 and a one year high of $56.71. The stock has a market capitalization of $70.16 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.67 and a beta of 1.05. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 1.02.

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

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Wednesday, October 2nd were issued a $0.768 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $3.07 annualized dividend and a dividend yield of 5.45%. Bank of Nova Scotia’s dividend payout ratio is currently 74.88%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BNS. Mather Group LLC. boosted its position in shares of Bank of Nova Scotia by 1,388.9% in the 2nd quarter. Mather Group LLC. now owns 536 shares of the bank’s stock worth $25,000 after purchasing an additional 500 shares in the last quarter. Blue Trust Inc. raised its position in shares of Bank of Nova Scotia by 3,127.8% in the 2nd quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock valued at $27,000 after purchasing an additional 563 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Bank of Nova Scotia by 1,588.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock worth $47,000 after purchasing an additional 810 shares in the last quarter. City State Bank purchased a new stake in Bank of Nova Scotia during the 3rd quarter worth approximately $57,000. Finally, EverSource Wealth Advisors LLC increased its stake in Bank of Nova Scotia by 102.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,605 shares of the bank’s stock valued at $83,000 after purchasing an additional 811 shares in the last quarter. 49.13% of the stock is owned by institutional investors.

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.