Bank of Nova Scotia (TSE:BNS) Sets New 52-Week High – Still a Buy?

Shares of The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) hit a new 52-week high on Monday . The company traded as high as C$106.39 and last traded at C$105.66, with a volume of 265649 shares trading hands. The stock had previously closed at C$105.75.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. TD Securities increased their price target on Bank of Nova Scotia from C$104.00 to C$112.00 in a report on Monday, February 9th. Barclays boosted their target price on Bank of Nova Scotia from C$97.00 to C$106.00 in a research report on Thursday. Raymond James Financial raised their price objective on shares of Bank of Nova Scotia from C$109.00 to C$114.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. BMO Capital Markets increased their target price on shares of Bank of Nova Scotia from C$93.00 to C$98.00 in a report on Wednesday, December 17th. Finally, Jefferies Financial Group increased their target price on shares of Bank of Nova Scotia from C$97.00 to C$104.00 in a report on Wednesday, February 11th. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of C$101.17.

Bank of Nova Scotia Trading Down 1.5%

The stock has a fifty day simple moving average of C$102.11 and a 200-day simple moving average of C$94.13. The company has a market capitalization of C$128.77 billion, a PE ratio of 18.37, a P/E/G ratio of 1.33 and a beta of 1.33.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its earnings results on Tuesday, December 2nd. The bank reported C$1.93 earnings per share for the quarter. Bank of Nova Scotia had a return on equity of 9.64% and a net margin of 17.68%.The business had revenue of C$9.77 billion for the quarter. As a group, equities research analysts predict that The Bank of Nova Scotia will post 7.1286267 EPS for the current year.

Insiders Place Their Bets

In related news, insider Julie Walsh sold 3,716 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of C$100.62, for a total value of C$373,903.92. Following the completion of the sale, the insider directly owned 1,430 shares of the company’s stock, valued at C$143,886.60. The trade was a 72.21% decrease in their ownership of the stock. 0.03% of the stock is currently owned by company insiders.

Bank of Nova Scotia Company Profile

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It offers a range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. The bank’s international operations span numerous countries and are more concentrated in Central and South America.