Bank of Nova Scotia (TSE:BNS) Sets New 1-Year High Following Analyst Upgrade

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS)’s share price reached a new 52-week high on Tuesday after Bank of America raised their price target on the stock from C$131.00 to C$134.00. The stock traded as high as C$128.81 and last traded at C$128.18, with a volume of 2935824 shares changing hands. The stock had previously closed at C$120.29.

Several other brokerages have also recently weighed in on BNS. National Bank Financial raised Bank of Nova Scotia from a “hold” rating to an “outperform” rating and upped their price target for the stock from C$128.00 to C$142.00 in a research note on Wednesday. Desjardins lifted their price target on shares of Bank of Nova Scotia from C$115.00 to C$125.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. TD Securities upgraded shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Tuesday. TD upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating and lifted their target price for the company from C$124.00 to C$141.00 in a report on Wednesday. Finally, Keefe, Bruyette & Woods raised their price objective on Bank of Nova Scotia from C$148.00 to C$152.00 and gave the company an “outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$128.86.

Trending Headlines about Bank of Nova Scotia

Here are the key news stories impacting Bank of Nova Scotia this week:

• Positive Sentiment: Record quarterly performance: Scotiabank reported third-quarter net income of C$2.95 billion, up 17% year over year, while adjusted diluted EPS rose to C$2.28 from C$1.88 and exceeded market expectations. Canadian Banking, Global Wealth Management, and Global Banking and Markets all posted strong results. Scotiabank profit jumps 17% to C$2.95 billion
• Positive Sentiment: Multiple upgrades and higher targets: TD Securities upgraded BNS to “strong buy,” while TD and National Bank Financial raised their ratings to “buy” and “outperform,” respectively. Their targets increased to C$141 and C$142. Keefe, Bruyette & Woods also raised its target to C$152 and maintained an “outperform” rating. Analyst rating changes
• Positive Sentiment: Capital returns and balance-sheet strength: The bank reported a 13.1% CET1 ratio, repurchased 8.6 million shares during the quarter and returned C$6.3 billion to shareholders year to date through dividends and buybacks. These figures may support investor confidence in future distributions.
• Neutral Sentiment: Mixed target signals: Raymond James raised its target to C$139 and maintained “outperform,” while Bank of America lifted its target to C$134. RBC and Canaccord Genuity raised targets to C$129 and C$127 but retained “sector perform” and “hold” ratings, respectively. Bank of Nova Scotia analyst targets
• Negative Sentiment: Trade uncertainty remains a risk: Scotiabank and BMO cautioned that ongoing trade unrest could pressure business activity, even though companies are adapting relatively well. Investors may therefore continue monitoring credit quality, economic growth and loan demand. BMO and Scotia discuss trade unrest

Bank of Nova Scotia Price Performance

The company has a market cap of C$158.22 billion, a P/E ratio of 17.90, a P/E/G ratio of 1.33 and a beta of 1.30. The company’s 50-day moving average is C$123.52 and its two-hundred day moving average is C$110.89.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings data on Tuesday, August 25th. The bank reported C$2.28 earnings per share (EPS) for the quarter. Bank of Nova Scotia had a return on equity of 11.41% and a net margin of 14.08%.The business had revenue of C$10.54 billion for the quarter. Equities research analysts anticipate that The Bank of Nova Scotia will post 7.1286267 EPS for the current year.

Bank of Nova Scotia Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Wednesday, July 29th were issued a dividend of $1.14 per share. The ex-dividend date of this dividend was Tuesday, July 7th. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $1.10. This represents a $4.56 dividend on an annualized basis and a dividend yield of 3.5%. Bank of Nova Scotia’s dividend payout ratio is currently 60.69%.

About Bank of Nova Scotia

Scotiabank’s vision is to be our clients’ most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: ‘for every future,’ we help our clients, their families and their communities achieve success through a broad range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.5 trillion (as at January 31, 2026), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS).