Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) – Analysts at Desjardins lifted their Q4 2017 earnings per share estimates for shares of Bank of Nova Scotia (The) in a research note issued to investors on Tuesday. Desjardins analyst D. Young now anticipates that the bank will earn $1.31 per share for the quarter, up from their prior estimate of $1.21.

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings results on Tuesday, August 29th. The bank reported $1.27 EPS for the quarter, missing the consensus estimate of $1.65 by $0.38. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.28 billion. Bank of Nova Scotia (The) had a return on equity of 14.54% and a net margin of 22.26%. During the same quarter in the prior year, the business posted $1.54 earnings per share. TRADEMARK VIOLATION NOTICE: “Desjardins Research Analysts Increase Earnings Estimates for Bank of Nova Scotia (The) (BNS)” was originally published by Watch List News and is the sole property of of Watch List News. If you are accessing this article on another publication, it was stolen and reposted in violation of US and international trademark & copyright laws. The correct version of this article can be viewed at https://www.watchlistnews.com/desjardins-research-analysts-increase-earnings-estimates-for-bank-of-nova-scotia-the-bns/1535739.html.

BNS has been the subject of a number of other reports. Zacks Investment Research raised Bank of Nova Scotia (The) from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Royal Bank Of Canada increased their target price on Bank of Nova Scotia (The) from $86.00 to $87.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 31st. Canaccord Genuity set a $87.00 target price on Bank of Nova Scotia (The) and gave the stock a “buy” rating in a research note on Tuesday. Scotiabank reissued a “buy” rating and set a $88.00 target price on shares of Bank of Nova Scotia (The) in a research note on Wednesday. Finally, BidaskClub raised Bank of Nova Scotia (The) from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $77.75.

Shares of Bank of Nova Scotia (BNS) opened at 62.14 on Friday. Bank of Nova Scotia has a 12-month low of $51.21 and a 12-month high of $63.07. The company’s 50 day moving average is $61.73 and its 200 day moving average is $59.19. The firm has a market capitalization of $74.68 billion, a PE ratio of 12.30 and a beta of 1.26.

Large investors have recently added to or reduced their stakes in the stock. OMERS ADMINISTRATION Corp increased its stake in Bank of Nova Scotia (The) by 5.3% in the second quarter. OMERS ADMINISTRATION Corp now owns 3,406,680 shares of the bank’s stock valued at $204,632,000 after buying an additional 170,800 shares during the last quarter. Creative Planning increased its stake in Bank of Nova Scotia (The) by 7.8% in the second quarter. Creative Planning now owns 14,383 shares of the bank’s stock valued at $865,000 after buying an additional 1,044 shares during the last quarter. Aperio Group LLC increased its stake in Bank of Nova Scotia (The) by 4.5% in the second quarter. Aperio Group LLC now owns 761,623 shares of the bank’s stock valued at $45,796,000 after buying an additional 32,822 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co increased its stake in Bank of Nova Scotia (The) by 0.7% in the second quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 452,542 shares of the bank’s stock valued at $27,204,000 after buying an additional 3,223 shares during the last quarter. Finally, Comerica Bank increased its stake in Bank of Nova Scotia (The) by 2.2% in the first quarter. Comerica Bank now owns 69,806 shares of the bank’s stock valued at $3,862,000 after buying an additional 1,517 shares during the last quarter. 45.12% of the stock is owned by institutional investors.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Tuesday, October 3rd will be issued a $0.6294 dividend. This represents a $2.52 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Monday, October 2nd. This is an increase from Bank of Nova Scotia (The)’s previous quarterly dividend of $0.56. Bank of Nova Scotia (The)’s dividend payout ratio is presently 46.30%.

Bank of Nova Scotia (The) announced that its board has approved a stock repurchase plan on Tuesday, May 30th that authorizes the company to repurchase 24,000,000 shares. This repurchase authorization authorizes the bank to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

About Bank of Nova Scotia (The)

The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank 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.

Earnings History and Estimates for Bank of Nova Scotia (The) (NYSE:BNS)

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