Bank of Nova Scotia (NYSE:BNS) Upgraded to Buy at UBS Group

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) was upgraded by investment analysts at UBS Group from a “neutral” rating to a “buy” rating in a note issued to investors on Monday,Briefing.com Automated Import reports.

A number of other brokerages also recently issued reports on BNS. Cibc World Mkts upgraded shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Friday, September 20th. TD Securities upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $69.00.

Bank of Nova Scotia Trading Up 1.2 %

BNS stock opened at $54.56 on Monday. Bank of Nova Scotia has a 12-month low of $41.80 and a 12-month high of $55.12. The business’s 50-day moving average is $52.97 and its 200 day moving average is $49.12. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.61. The stock has a market cap of $67.90 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 1.60 and a beta of 1.05.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Tuesday, August 27th. The bank reported $1.63 EPS for the quarter, beating the consensus estimate of $1.62 by $0.01. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. The firm had revenue of $8.36 billion during the quarter, compared to the consensus estimate of $8.53 billion. During the same period in the prior year, the company earned $1.30 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Bank of Nova Scotia will post 4.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Bank of Nova Scotia

Several institutional investors have recently modified their holdings of BNS. Mather Group LLC. raised its holdings in Bank of Nova Scotia by 1,388.9% during the second quarter. Mather Group LLC. now owns 536 shares of the bank’s stock worth $25,000 after purchasing an additional 500 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Bank of Nova Scotia by 3,127.8% in the 2nd quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock worth $27,000 after buying an additional 563 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Bank of Nova Scotia by 1,588.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock worth $47,000 after purchasing an additional 810 shares during the period. City State Bank acquired a new stake in shares of Bank of Nova Scotia during the third quarter worth $57,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Bank of Nova Scotia by 102.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,605 shares of the bank’s stock valued at $83,000 after purchasing an additional 811 shares during the period. Hedge funds and other institutional investors 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.