Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) shares reached a new 52-week low during trading on Thursday . The company traded as low as C$74.78 and last traded at C$74.95, with a volume of 1576236 shares trading hands. The stock had previously closed at C$75.62.
A number of research analysts have recently commented on BNS shares. Scotiabank cut their target price on Bank of Nova Scotia from C$91.00 to C$90.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 30th. BMO Capital Markets set a C$86.00 price target on Bank of Nova Scotia and gave the company an “outperform” rating in a report on Wednesday, February 28th. TD Securities boosted their price target on Bank of Nova Scotia from C$92.00 to C$93.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Cormark boosted their price target on Bank of Nova Scotia from C$87.00 to C$88.00 in a report on Friday, June 1st. Finally, Royal Bank of Canada boosted their price target on Bank of Nova Scotia from C$92.00 to C$95.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Bank of Nova Scotia presently has an average rating of “Buy” and a consensus target price of C$89.00.
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its quarterly earnings results on Tuesday, May 29th. The bank reported C$1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.68 by C$0.03. The firm had revenue of C$7.06 billion during the quarter, compared to analyst estimates of C$6.89 billion. Bank of Nova Scotia had a return on equity of 16.32% and a net margin of 32.97%.
In related news, Director Scott Thomson bought 1,900 shares of the stock in a transaction on Friday, June 1st. The stock was bought at an average price of C$77.25 per share, for a total transaction of C$146,775.00. Also, insider Michael D. Penner bought 10,000 shares of the stock in a transaction on Monday, June 11th. The shares were bought at an average price of C$58.25 per share, with a total value of C$582,500.00. In the last 90 days, insiders have acquired 13,900 shares of company stock valued at $883,795.
Bank of Nova Scotia Company Profile
The Bank of Nova Scotia provides various financial services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. It offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.
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