Bank of Nova Scotia (NYSE:BNS) Research Coverage Started at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods started coverage on shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in a research note issued to investors on Friday morning. The brokerage issued an outperform rating on the bank’s stock.

A number of other research firms have also weighed in on BNS. Weiss Ratings lowered Bank of Nova Scotia from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, August 18th. Royal Bank Of Canada lifted their price target on Bank of Nova Scotia from $98.00 to $117.00 and gave the company a “sector perform” rating in a report on Thursday, May 28th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Bank of Nova Scotia has an average rating of “Moderate Buy” and a consensus target price of $117.00.

Bank of Nova Scotia Price Performance

Shares of BNS opened at $87.56 on Friday. The company has a 50 day moving average price of $87.58 and a 200-day moving average price of $79.60. Bank of Nova Scotia has a fifty-two week low of $56.55 and a fifty-two week high of $92.04. The stock has a market capitalization of $106.72 billion, a PE ratio of 16.71, a PEG ratio of 1.08 and a beta of 1.11. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.04 and a current ratio of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Wednesday, May 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. The firm had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $7.13 billion. Bank of Nova Scotia had a net margin of 13.38% and a return on equity of 13.16%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm earned $1.52 earnings per share. Equities analysts predict that Bank of Nova Scotia will post 6.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Swiss RE Ltd. purchased a new stake in Bank of Nova Scotia during the fourth quarter valued at approximately $30,000. Maseco LLP acquired a new stake in Bank of Nova Scotia in the first quarter valued at approximately $30,000. CoreCap Advisors LLC boosted its stake in Bank of Nova Scotia by 1,366.7% in the second quarter. CoreCap Advisors LLC now owns 440 shares of the bank’s stock valued at $38,000 after acquiring an additional 410 shares in the last quarter. Addison Advisors LLC purchased a new position in Bank of Nova Scotia in the second quarter worth $39,000. Finally, Brown Brothers Harriman & Co. purchased a new position in Bank of Nova Scotia in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Company Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada’s largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.

Scotiabank’s core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.