Bank of Nova Scotia (TSE:BNS) Sets New 1-Year High After Analyst Upgrade

Shares of The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) hit a new 52-week high during trading on Tuesday after Bank of America raised their price target on the stock from C$131.00 to C$134.00. The company traded as high as C$128.81 and last traded at C$128.18, with a volume of 2935824 shares traded. The stock had previously closed at C$120.29.

A number of other research firms have also recently commented on BNS. Royal Bank Of Canada lifted their price target on Bank of Nova Scotia from C$117.00 to C$129.00 and gave the stock a “sector perform” rating in a report on Wednesday. Desjardins raised their price objective on shares of Bank of Nova Scotia from C$115.00 to C$125.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. TD Securities raised Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Tuesday. National Bank Financial upgraded shares of Bank of Nova Scotia from a “hold” rating to an “outperform” rating and lifted their price objective for the stock from C$128.00 to C$142.00 in a research note on Wednesday. Finally, TD upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating and increased their target price for the stock from C$124.00 to C$141.00 in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$128.86.

Trending Headlines about Bank of Nova Scotia

Here are the key news stories impacting Bank of Nova Scotia this week:

• Positive Sentiment: Record quarterly results exceeded expectations. Scotiabank reported net income of C$2.95 billion, up 17% year over year, while adjusted diluted earnings per share rose to C$2.28 from C$1.88. Management described the quarter as a record, with strength across Canadian Banking, Global Wealth Management, and Global Banking and Markets. Scotiabank profit jumps 17% as bank calls Q3 a record quarter
• Positive Sentiment: Profitability and shareholder returns were additional positives. Results benefited from margin expansion, fee growth, and stronger underwriting and advisory activity. The bank reported a 13.1% CET1 capital ratio, repurchased 8.6 million shares during the quarter, and said it had returned C$6.3 billion to shareholders year to date through dividends and buybacks. BMO and Scotiabank top estimates as capital-markets units surge
• Positive Sentiment: Analyst sentiment improved materially. TD Securities upgraded BNS from “hold” to “strong buy,” while TD and National Bank Financial separately upgraded the stock to “buy” or “outperform.” Their new price targets are C$141 and C$142, respectively. Keefe, Bruyette & Woods also raised its target to C$152 and maintained an “outperform” rating. Scotiabank upgraded to Outperform at National Bank
• Positive Sentiment: Other target increases came from Raymond James, Bank of America, RBC, and Canaccord Genuity, although their targets range from modest downside to moderate upside. The mixed targets suggest analysts recognize the earnings improvement but differ on how much of it is already reflected in the stock.
• Neutral Sentiment: Management and other Canadian banks cautioned that trade-related uncertainty remains a risk, although businesses appear to be adapting well. BMO and Scotia signal caution on trade unrest

Bank of Nova Scotia Stock Up 0.8%

The firm has a market capitalization of C$158.22 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 1.33 and a beta of 1.30. The firm has a 50 day moving average of C$123.52 and a two-hundred day moving average of C$110.89.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its quarterly earnings results on Tuesday, August 25th. The bank reported C$2.28 earnings per share (EPS) for the quarter. The company had revenue of C$10.54 billion for the quarter. Bank of Nova Scotia had a net margin of 14.08% and a return on equity of 11.41%. Sell-side analysts forecast that The Bank of Nova Scotia will post 7.1286267 EPS for the current fiscal year.

Bank of Nova Scotia Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Wednesday, July 29th were paid a dividend of $1.14 per share. The ex-dividend date of this dividend was Tuesday, July 7th. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $1.10. This represents a $4.56 dividend on an annualized basis and a dividend yield of 3.5%. Bank of Nova Scotia’s payout ratio is 60.69%.

Bank of Nova Scotia Company Profile

Scotiabank’s vision is to be our clients’ most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: ‘for every future,’ we help our clients, their families and their communities achieve success through a broad range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.5 trillion (as at January 31, 2026), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS).