Today, Bank of Nova Scotia (BNS) Posts Earnings Results, Beats Estimates By $0.45 EPS

Today, Bank of Nova Scotia (BNS) Posts  Earnings Results, Beats Estimates By $0.45 EPS

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) posted its quarterly earnings data on Tuesday. The company reported $1.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.45. The firm earned $6.75 billion during the quarter, compared to analysts’ expectations of $6.64 billion. Bank of Nova Scotia had a net margin of 20.84% and a return on equity of 14.04%. During the same quarter last year, the company posted $1.45 EPS.

Shares of Bank of Nova Scotia (NYSE:BNS) opened at 53.94 on Tuesday. The firm has a market capitalization of $64.99 billion, a price-to-earnings ratio of 12.90 and a beta of 1.29. The stock has a 50 day moving average of $53.41 and a 200-day moving average of $51.72. Bank of Nova Scotia has a one year low of $35.01 and a one year high of $55.14.

A number of hedge funds have recently bought and sold shares of the stock. Advisor Group Inc. bought a new stake in Bank of Nova Scotia during the second quarter valued at about $120,000. Verition Fund Management LLC bought a new stake in Bank of Nova Scotia during the third quarter valued at about $207,000. Advisor Partners LLC boosted its stake in Bank of Nova Scotia by 1.6% in the second quarter. Advisor Partners LLC now owns 4,813 shares of the company’s stock valued at $235,000 after buying an additional 75 shares in the last quarter. LPL Financial LLC boosted its stake in Bank of Nova Scotia by 9.1% in the third quarter. LPL Financial LLC now owns 5,859 shares of the company’s stock valued at $308,000 after buying an additional 488 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Bank of Nova Scotia by 3.2% in the second quarter. Ameriprise Financial Inc. now owns 6,491 shares of the company’s stock valued at $318,000 after buying an additional 201 shares in the last quarter. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

BNS has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research report on Friday, November 11th. Dundee Securities initiated coverage on shares of Bank of Nova Scotia in a research report on Wednesday, September 21st. They set a “buy” rating for the company. Bank of America Corp. initiated coverage on shares of Bank of Nova Scotia in a research report on Tuesday, November 1st. They set a “buy” rating for the company. Barclays PLC reaffirmed a “hold” rating on shares of Bank of Nova Scotia in a research report on Thursday, October 27th. Finally, Royal Bank Of Canada increased their price objective on shares of Bank of Nova Scotia from $72.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 31st. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Bank of Nova Scotia has a consensus rating of “Buy” and a consensus price target of $68.09.

Bank of Nova Scotia Company Profile

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