Royal Bank of Canada Boosts Bank of Nova Scotia (BNS) Price Target to C$92.00

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price upped by stock analysts at Royal Bank of Canada from C$91.00 to C$92.00 in a research report issued on Wednesday. Royal Bank of Canada’s target price would suggest a potential upside of 18.50% from the company’s previous close.

A number of other equities research analysts have also commented on the company. Citigroup increased their price target on Bank of Nova Scotia from C$90.00 to C$93.00 in a research report on Friday, November 17th. CIBC increased their price target on Bank of Nova Scotia from C$87.00 to C$93.00 in a research report on Monday, November 13th. Scotiabank lowered their price target on Bank of Nova Scotia from C$95.00 to C$94.00 and set an “outperform” rating for the company in a research report on Wednesday, November 29th. BMO Capital Markets reissued an “outperform” rating and issued a C$85.00 price target on shares of Bank of Nova Scotia in a research report on Wednesday, November 29th. Finally, Canaccord Genuity increased their price target on Bank of Nova Scotia from C$88.00 to C$92.00 in a research report on Wednesday, November 1st. Eight analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average price target of C$89.25.

Bank of Nova Scotia (TSE:BNS) traded up C$0.77 during midday trading on Wednesday, reaching C$77.64. The company had a trading volume of 1,063,479 shares, compared to its average volume of 2,183,530. The stock has a market cap of $92,210.00, a price-to-earnings ratio of 11.96 and a beta of 0.86. Bank of Nova Scotia has a twelve month low of C$73.31 and a twelve month high of C$85.50.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings results on Tuesday, November 28th. The bank reported C$1.65 EPS for the quarter, missing analysts’ consensus estimates of C$1.68 by C($0.03). The company had revenue of C$6.81 billion during the quarter, compared to analysts’ expectations of C$7.05 billion. Bank of Nova Scotia had a net margin of 30.39% and a return on equity of 14.64%. During the same period in the previous year, the company posted $1.58 earnings per share.

In other news, insider Barbara Frances Mason sold 20,000 shares of the firm’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of C$82.60, for a total transaction of C$1,652,000.00.

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About Bank of Nova Scotia

The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank 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.

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