Cormark Reduces Earnings Estimates for Bank of Nova Scotia

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) – Cormark dropped their FY2026 EPS estimates for Bank of Nova Scotia in a report released on Friday, February 21st. Cormark analyst L. Persaud now forecasts that the bank will post earnings of $5.59 per share for the year, down from their previous forecast of $5.67. The consensus estimate for Bank of Nova Scotia’s current full-year earnings is $4.91 per share.

Several other research analysts also recently commented on the stock. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Royal Bank of Canada raised their price target on Bank of Nova Scotia from $65.00 to $74.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. TD Securities upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, CIBC restated a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $72.00.

Bank of Nova Scotia Stock Performance

NYSE BNS opened at $49.88 on Monday. Bank of Nova Scotia has a 1 year low of $43.67 and a 1 year high of $57.07. The firm has a market cap of $62.12 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 1.16 and a beta of 1.07. The company has a fifty day moving average price of $51.85 and a 200-day moving average price of $52.38. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03.

Bank of Nova Scotia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th were given a dividend of $0.7535 per share. This represents a $3.01 dividend on an annualized basis and a dividend yield of 6.04%. The ex-dividend date was Tuesday, January 7th. Bank of Nova Scotia’s payout ratio is 68.06%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BNS. Norges Bank bought a new stake in Bank of Nova Scotia in the 4th quarter worth approximately $690,746,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Bank of Nova Scotia by 260.1% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,480,486 shares of the bank’s stock valued at $298,575,000 after buying an additional 3,958,580 shares in the last quarter. Pathway Financial Advisers LLC boosted its holdings in shares of 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 valued at $216,447,000 after purchasing an additional 3,899,760 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Bank of Nova Scotia by 24.9% during the 3rd 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 in the last quarter. Finally, Toronto Dominion Bank increased its holdings in shares of Bank of Nova Scotia by 9.6% in the 3rd quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank’s stock valued at $1,361,752,000 after acquiring an additional 2,195,604 shares during the period. Institutional investors own 49.13% of the company’s stock.

About Bank of Nova Scotia

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.