Royal Bank of Canada Increases Bank of Nova Scotia (TSE:BNS) Price Target to C$92.00

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price upped by Royal Bank of Canada from C$91.00 to C$92.00 in a research note issued to investors on Wednesday, February 14th. Royal Bank of Canada’s target price points to a potential upside of 17.93% from the company’s current price.

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

Shares of Bank of Nova Scotia (TSE BNS) traded up C$0.91 during trading on Wednesday, hitting C$78.01. 1,146,093 shares of the company traded hands, compared to its average volume of 2,162,428. The company has a market cap of $93,400.00, a price-to-earnings ratio of 12.00 and a beta of 0.86. Bank of Nova Scotia has a 52 week low of C$73.31 and a 52 week high of C$85.50.

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

In related news, insider Barbara Frances Mason sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of C$82.60, for a total value 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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