Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) – Equities researchers at Desjardins lowered their Q1 2020 EPS estimates for Bank of Nova Scotia in a report issued on Wednesday, January 22nd. Desjardins analyst D. Young now forecasts that the bank will earn $1.38 per share for the quarter, down from their prior estimate of $1.41. Desjardins has a “Buy” rating and a $82.00 price objective on the stock. Desjardins also issued estimates for Bank of Nova Scotia’s Q2 2020 earnings at $1.32 EPS, Q3 2020 earnings at $1.44 EPS and Q4 2020 earnings at $1.38 EPS.
A number of other research analysts also recently commented on the stock. CIBC reaffirmed a “hold” rating on shares of Bank of Nova Scotia in a research report on Wednesday, January 8th. Canaccord Genuity reaffirmed a “hold” rating and issued a $77.00 target price on shares of Bank of Nova Scotia in a research report on Monday, November 25th. Credit Suisse Group downgraded shares of Bank of Nova Scotia from an “outperform” rating to a “neutral” rating and set a $76.00 target price on the stock. in a research report on Friday, December 13th. ValuEngine raised shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research report on Friday, January 10th. Finally, Zacks Investment Research raised shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research report on Monday, January 6th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $74.56.
NYSE BNS opened at $55.93 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.06 and a quick ratio of 1.06. The firm’s fifty day moving average price is $55.97 and its 200 day moving average price is $55.34. The company has a market capitalization of $67.82 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 1.85 and a beta of 1.14. Bank of Nova Scotia has a 12 month low of $50.36 and a 12 month high of $58.22.
Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Tuesday, November 26th. The bank reported $1.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.44. The business had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $7.98 billion. Bank of Nova Scotia had a return on equity of 13.65% and a net margin of 17.99%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.77 EPS.
A number of institutional investors have recently modified their holdings of the business. Nippon Life Global Investors Americas Inc. grew its position in Bank of Nova Scotia by 14.1% during the 4th quarter. Nippon Life Global Investors Americas Inc. now owns 85,660 shares of the bank’s stock worth $4,839,000 after purchasing an additional 10,600 shares during the last quarter. Advisor Partners LLC grew its position in Bank of Nova Scotia by 10.7% during the 4th quarter. Advisor Partners LLC now owns 13,018 shares of the bank’s stock worth $721,000 after purchasing an additional 1,256 shares during the last quarter. Howland Capital Management LLC grew its position in Bank of Nova Scotia by 28.1% during the 4th quarter. Howland Capital Management LLC now owns 232,230 shares of the bank’s stock worth $13,119,000 after purchasing an additional 50,947 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Bank of Nova Scotia during the 4th quarter worth $202,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Bank of Nova Scotia during the 4th quarter worth $45,000. 46.85% of the stock is currently owned by institutional investors.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.684 per share. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Monday, January 6th. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 51.58%.
Bank of Nova Scotia Company Profile
The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.