Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) – Equities research analysts at National Bank Financial reduced their Q1 2018 earnings per share estimates for shares of Bank of Nova Scotia (The) in a report issued on Tuesday. National Bank Financial analyst G. Dechaine now forecasts that the bank will post earnings of $1.33 per share for the quarter, down from their previous estimate of $1.34. National Bank Financial currently has a “Outperform Overweight” rating on the stock.

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) last issued its earnings results on Tuesday, August 29th. The bank reported $1.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.65 by $0.38. The business 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 period last year, the company posted $1.54 earnings per share. COPYRIGHT VIOLATION NOTICE: This report was posted by Watch List News and is the property of of Watch List News. If you are reading this report on another publication, it was illegally stolen and republished in violation of US and international trademark & copyright law. The original version of this report can be accessed at https://www.watchlistnews.com/q1-2018-earnings-estimate-for-bank-of-nova-scotia-the-issued-by-national-bank-financial-bns/1537820.html.

A number of other equities research analysts also recently weighed in on BNS. BidaskClub downgraded shares of Bank of Nova Scotia (The) from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Bank of America Corporation lifted their price objective on Bank of Nova Scotia (The) from $81.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, May 31st. Canaccord Genuity set a $87.00 price objective on Bank of Nova Scotia (The) and gave the company a “buy” rating in a report on Tuesday. Scotiabank reissued a “buy” rating and set a $88.00 price objective on shares of Bank of Nova Scotia (The) in a report on Wednesday. Finally, Royal Bank Of Canada lifted their price objective on Bank of Nova Scotia (The) from $86.00 to $87.00 and gave the company an “outperform” rating in a report on Wednesday, May 31st. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Bank of Nova Scotia (The) presently has a consensus rating of “Buy” and a consensus target price of $83.20.

Shares of Bank of Nova Scotia (NYSE:BNS) opened at 62.70 on Friday. Bank of Nova Scotia has a one year low of $51.21 and a one year high of $63.07. The firm has a market capitalization of $75.36 billion, a PE ratio of 12.41 and a beta of 1.27. The firm’s 50 day moving average is $61.76 and its 200-day moving average is $59.20.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Tuesday, October 3rd will be issued a $0.6294 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.02%. This is a boost from Bank of Nova Scotia (The)’s previous quarterly dividend of $0.56. The ex-dividend date is Monday, October 2nd. Bank of Nova Scotia (The)’s payout ratio is currently 46.30%.

Bank of Nova Scotia (The) announced that its Board of Directors has authorized a stock buyback program on Tuesday, May 30th that permits the company to buyback 24,000,000 shares. This buyback authorization permits the bank to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OMERS ADMINISTRATION Corp boosted its position 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 worth $204,632,000 after buying an additional 170,800 shares in the last quarter. Creative Planning boosted its position 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 worth $865,000 after buying an additional 1,044 shares in the last quarter. Aperio Group LLC boosted its position 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 worth $45,796,000 after buying an additional 32,822 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co boosted its position 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 worth $27,204,000 after buying an additional 3,223 shares in the last quarter. Finally, Comerica Bank boosted its position 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 worth $3,862,000 after buying an additional 1,517 shares in the last quarter. 45.12% of the stock is owned by institutional investors and hedge funds.

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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