Bank of Nova Scotia (NYSE:BNS) Coverage Initiated at UBS Group

Analysts at UBS Group assumed coverage on shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in a research report issued to clients and investors on Tuesday, MarketBeat reports. The brokerage set a “neutral” rating on the bank’s stock.

A number of other analysts also recently commented on BNS. Barclays began coverage on Bank of Nova Scotia in a research report on Wednesday, March 20th. They set an “underweight” rating and a $70.00 target price on the stock. StockNews.com downgraded Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research report on Wednesday, May 29th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, Bank of Nova Scotia presently has a consensus rating of “Hold” and a consensus price target of $68.00.

Bank of Nova Scotia Trading Down 0.8 %

Shares of BNS stock opened at $45.45 on Tuesday. The business’s fifty day moving average price is $46.90 and its 200 day moving average price is $47.65. Bank of Nova Scotia has a 1-year low of $39.79 and a 1-year high of $51.98. The firm has a market capitalization of $55.88 billion, a PE ratio of 10.28, a P/E/G ratio of 1.69 and a beta of 1.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.03 and a quick ratio of 1.03.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its earnings results on Tuesday, May 28th. The bank reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. The company had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $6.10 billion. Bank of Nova Scotia had a return on equity of 11.40% and a net margin of 10.40%. As a group, sell-side analysts forecast that Bank of Nova Scotia will post 4.82 EPS for the current fiscal year.

Institutional Trading of Bank of Nova Scotia

Several institutional investors and hedge funds have recently made changes to their positions in BNS. Bruce G. Allen Investments LLC lifted its position in shares of Bank of Nova Scotia by 70.6% in the first quarter. Bruce G. Allen Investments LLC now owns 585 shares of the bank’s stock valued at $30,000 after acquiring an additional 242 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Bank of Nova Scotia by 71.6% in the fourth quarter. Fifth Third Bancorp now owns 858 shares of the bank’s stock valued at $42,000 after acquiring an additional 358 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Bank of Nova Scotia by 144.6% in the first quarter. Global Retirement Partners LLC now owns 959 shares of the bank’s stock valued at $50,000 after acquiring an additional 567 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Bank of Nova Scotia in the first quarter valued at $53,000. Finally, Galibier Capital Management Ltd. purchased a new stake in shares of Bank of Nova Scotia in the first quarter valued at $76,000. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

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.