Bank of Nova Scotia (BNS) Hits New 1-Year High at $53.23
Bank of Nova Scotia (NYSE:BNS) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $53.23 and last traded at $53.09, with a volume of 473,710 shares traded. The stock had previously closed at $53.06.
Several brokerages have recently commented on BNS. Zacks Investment Research raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Wednesday, May 4th. Macquarie cut shares of Bank of Nova Scotia from an “outperform” rating to a “neutral” rating in a report on Thursday, June 9th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $74.00 target price on shares of Bank of Nova Scotia in a report on Tuesday, May 31st. BMO Capital Markets reaffirmed a “buy” rating on shares of Bank of Nova Scotia in a report on Wednesday, July 6th. Finally, Deutsche Bank AG cut shares of Bank of Nova Scotia from a “buy” rating to a “hold” rating and decreased their price objective for the company from $50.00 to $35.00 in a research note on Thursday, June 9th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $62.00.
The firm has a 50 day moving average price of $50.85 and a 200-day moving average price of $48.50. The company has a market cap of $63.75 billion and a PE ratio of 12.18.
Bank of Nova Scotia (NYSE:BNS) last announced its quarterly earnings results on Tuesday, May 31st. The company reported $1.46 EPS for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.04. During the same quarter in the previous year, the firm earned $1.42 EPS. Equities analysts expect that Bank of Nova Scotia will post $4.53 EPS for the current year.
The Bank of Nova Scotia (the Bank) is a Canada-based diversified financial institution. The Bank offered a range of products and services, including retail, commercial, corporate and investment banking to more than 21 million customers in more than 55 countries around the world. The Bank has four business lines: Canadian Banking, International Banking, Scotia Capital and Global Wealth Management.
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