Desjardins Lifts Earnings Estimates for Bank of Nova Scotia

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) – Stock analysts at Desjardins boosted their FY2025 earnings per share estimates for Bank of Nova Scotia in a note issued to investors 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 previous estimate 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 weighed in on the company. CIBC reissued a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. TD Securities raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Barclays raised Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 21st. Royal Bank of Canada decreased their price objective on Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Finally, Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. One equities research 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $75.50.

Bank of Nova Scotia Stock Down 0.2 %

Bank of Nova Scotia stock opened at $49.61 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $61.79 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 1.16 and a beta of 1.07. Bank of Nova Scotia has a fifty-two week low of $43.67 and a fifty-two week high of $57.07. The stock’s fifty day moving average is $51.64 and its two-hundred day moving average is $52.38.

Hedge Funds Weigh In On Bank of Nova Scotia

Large investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its position in Bank of Nova Scotia by 17.5% during the third quarter. The Manufacturers Life Insurance Company now owns 4,438,129 shares of the bank’s stock worth $241,981,000 after buying an additional 660,097 shares during the period. Intact Investment Management Inc. lifted its position in Bank of Nova Scotia by 48.3% during the third quarter. Intact Investment Management Inc. now owns 1,563,594 shares of the bank’s stock worth $85,201,000 after buying an additional 509,120 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Bank of Nova Scotia by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,744,062 shares of the bank’s stock worth $204,214,000 after buying an additional 150,247 shares during the period. Citigroup Inc. lifted its position in Bank of Nova Scotia by 12.3% during the third quarter. Citigroup Inc. now owns 580,664 shares of the bank’s stock worth $31,673,000 after buying an additional 63,528 shares during the period. Finally, CIBC Asset Management Inc lifted its position in Bank of Nova Scotia by 2.4% during the third quarter. CIBC Asset Management Inc now owns 10,074,518 shares of the bank’s stock worth $550,729,000 after buying an additional 240,803 shares during the period. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be given a dividend of $0.7415 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 annualized dividend and a yield of 5.98%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 68.06%.

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.