CIBC Reaffirms Neutral Rating for Bank of Nova Scotia (NYSE:BNS)

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS)‘s stock had its “neutral” rating reissued by equities research analysts at CIBC in a research report issued on Tuesday, MarketBeat reports.

BNS has been the topic of a number of other reports. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. UBS Group upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Monday, November 18th. TD Securities upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada boosted their price objective on Bank of Nova Scotia from $65.00 to $74.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Bank of Nova Scotia Stock Down 0.6 %

Bank of Nova Scotia stock traded down $0.30 during midday trading on Tuesday, reaching $50.93. The stock had a trading volume of 224,313 shares, compared to its average volume of 1,926,298. The company has a fifty day moving average price of $52.42 and a two-hundred day moving average price of $52.17. Bank of Nova Scotia has a 12 month low of $43.67 and a 12 month high of $57.07. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $63.43 billion, a P/E ratio of 11.79, a PEG ratio of 1.15 and a beta of 1.07.

Institutional Investors Weigh In On Bank of Nova Scotia

Institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Bank of Nova Scotia in the fourth quarter worth $690,746,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Bank of Nova Scotia by 260.1% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,480,486 shares of the bank’s stock valued at $298,575,000 after acquiring an additional 3,958,580 shares in the last quarter. Pathway Financial Advisers LLC lifted its stake in Bank of Nova Scotia by 5,380.9% in the third quarter. Pathway Financial Advisers LLC now owns 3,972,234 shares of the bank’s stock worth $216,447,000 after acquiring an additional 3,899,760 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Bank of Nova Scotia by 24.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,757,961 shares of the bank’s stock worth $640,624,000 after acquiring an additional 2,346,995 shares during the period. Finally, Toronto Dominion Bank increased its position in Bank of Nova Scotia by 9.6% during the 3rd quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank’s stock valued at $1,361,752,000 after purchasing an additional 2,195,604 shares during the period. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Nova Scotia Company Profile

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.