Barclays Forecasts Strong Price Appreciation for Bank of Nova Scotia (TSE:BNS) Stock

by · The Markets Daily

Bank of Nova Scotia (TSE:BNS – Get Free Report) (NYSE:BNS) had its price objective boosted by research analysts at Barclays from C$97.00 to C$106.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. Barclays‘s price target suggests a potential upside of 1.83% from the stock’s current price.

Other equities analysts also recently issued reports about the company. TD Securities upped their target price on Bank of Nova Scotia from C$104.00 to C$112.00 in a research report on Monday, February 9th. Raymond James Financial raised their price objective on Bank of Nova Scotia from C$109.00 to C$114.00 and gave the stock an “outperform” rating in a research note on Tuesday. Canadian Imperial Bank of Commerce upped their target price on Bank of Nova Scotia from C$103.00 to C$108.00 and gave the company a “neutral” rating in a research report on Friday, February 13th. Canaccord Genuity Group raised their price target on shares of Bank of Nova Scotia from C$106.00 to C$112.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Finally, Desjardins lifted their price objective on shares of Bank of Nova Scotia from C$104.00 to C$106.00 and gave the company a “hold” rating in a research note on Monday, February 9th. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of C$101.17.

Get Our Latest Analysis on BNS

Bank of Nova Scotia Stock Up 0.1%

Shares of Bank of Nova Scotia stock traded up C$0.07 during midday trading on Thursday, hitting C$104.10. The company had a trading volume of 645,717 shares, compared to its average volume of 4,362,361. The company has a fifty day simple moving average of C$101.92 and a 200 day simple moving average of C$93.61. The stock has a market cap of C$128.70 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 1.33 and a beta of 1.33. Bank of Nova Scotia has a 12-month low of C$62.57 and a 12-month high of C$106.31.

Bank of Nova Scotia (TSE:BNS – Get Free Report) (NYSE:BNS) last issued its quarterly earnings results on Tuesday, December 2nd. The bank reported C$1.93 earnings per share (EPS) for the quarter. The business had revenue of C$9.77 billion for the quarter. Bank of Nova Scotia had a net margin of 17.68% and a return on equity of 9.64%. As a group, analysts expect that Bank of Nova Scotia will post 7.1286267 EPS for the current year.

Insiders Place Their Bets

In related news, insider Julie Walsh sold 3,716 shares of Bank of Nova Scotia stock in a transaction dated Monday, December 15th. The stock was sold at an average price of C$100.62, for a total value of C$373,903.92. Following the sale, the insider directly owned 1,430 shares in the company, valued at approximately C$143,886.60. The trade was a 72.21% decrease in their position. Corporate insiders own 0.03% of the company’s stock.

About Bank of Nova Scotia

(Get Free Report)

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It offers a range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. The bank’s international operations span numerous countries and are more concentrated in Central and South America.

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