Desjardins Has Optimistic Outlook of BNS FY2025 Earnings

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) – Analysts at Desjardins upped their FY2025 earnings per share estimates for Bank of Nova Scotia in a report released on Tuesday, February 25th. Desjardins analyst D. Young now expects that the bank will earn $5.04 per share for the year, up from their prior forecast of $5.01. The consensus estimate for Bank of Nova Scotia’s current full-year earnings is $4.91 per share.

Several other analysts have also recently commented on the company. Cibc World Mkts cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. TD Securities raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Bank of America raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada lowered their price objective on Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Bank of Nova Scotia currently has a consensus rating of “Hold” and a consensus price target of $75.50.

Bank of Nova Scotia Stock Down 1.4 %

Shares of BNS opened at $49.68 on Friday. The company has a market capitalization of $61.87 billion, a PE ratio of 11.50, a PEG ratio of 1.16 and a beta of 1.07. The stock’s 50-day moving average price is $51.72 and its two-hundred day moving average price is $52.35. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. Bank of Nova Scotia has a 12 month low of $43.67 and a 12 month high of $57.07.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be issued a $0.7415 dividend. This represents a $2.97 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date is Tuesday, April 1st. Bank of Nova Scotia’s payout ratio is 68.06%.

Hedge Funds Weigh In On Bank of Nova Scotia

Institutional investors have recently made changes to their positions in the stock. Magnus Financial Group LLC increased its position in Bank of Nova Scotia by 4.1% in the 4th quarter. Magnus Financial Group LLC now owns 5,100 shares of the bank’s stock valued at $274,000 after buying an additional 200 shares in the last quarter. Sigma Planning Corp grew its stake in Bank of Nova Scotia by 1.9% in the third quarter. Sigma Planning Corp now owns 11,089 shares of the bank’s stock valued at $604,000 after acquiring an additional 210 shares during the period. Private Advisor Group LLC increased its holdings in shares of Bank of Nova Scotia by 3.5% during the fourth quarter. Private Advisor Group LLC now owns 6,248 shares of the bank’s stock valued at $336,000 after acquiring an additional 211 shares in the last quarter. Addison Advisors LLC raised its position in shares of Bank of Nova Scotia by 7.3% during the third quarter. Addison Advisors LLC now owns 3,357 shares of the bank’s stock worth $183,000 after purchasing an additional 227 shares during the period. Finally, Moran Wealth Management LLC lifted its holdings in shares of Bank of Nova Scotia by 6.5% in the 4th quarter. Moran Wealth Management LLC now owns 3,925 shares of the bank’s stock worth $211,000 after purchasing an additional 240 shares in the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

About Bank of Nova Scotia

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.