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

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price objective lifted by equities researchers at Desjardins from C$104.00 to C$106.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the bank’s stock. Desjardins’ price objective would indicate a potential upside of 0.90% from the stock’s current price.

BNS has been the subject of a number of other research reports. BMO Capital Markets raised their price objective on shares of Bank of Nova Scotia from C$93.00 to C$98.00 in a report on Wednesday, December 17th. Canaccord Genuity Group boosted their price objective on shares of Bank of Nova Scotia from C$98.00 to C$100.00 in a research note on Wednesday, December 3rd. TD Securities upped their price target on Bank of Nova Scotia from C$93.00 to C$99.00 in a research report on Monday, November 10th. Jefferies Financial Group lifted their price objective on Bank of Nova Scotia from C$86.00 to C$96.00 in a research note on Tuesday, November 25th. Finally, Canadian Imperial Bank of Commerce raised their price target on shares of Bank of Nova Scotia from C$100.00 to C$103.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$96.08.

Bank of Nova Scotia Stock Performance

Shares of BNS traded up C$0.75 during trading hours on Monday, reaching C$105.05. The stock had a trading volume of 1,164,207 shares, compared to its average volume of 4,714,569. Bank of Nova Scotia has a 12 month low of C$62.57 and a 12 month high of C$105.20. The stock has a market capitalization of C$129.87 billion, a PE ratio of 18.53, a PEG ratio of 1.33 and a beta of 1.33. The company’s 50-day moving average is C$101.05 and its two-hundred day moving average is C$92.21.

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

Insider Activity at Bank of Nova Scotia

In other news, insider Julie Walsh sold 3,716 shares of the firm’s 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 completion of the sale, the insider directly owned 1,430 shares in the company, valued at C$143,886.60. This trade represents a 72.21% decrease in their position. 0.03% of the stock is currently owned by corporate insiders.

Bank of Nova Scotia Company Profile

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.