Royal Bank of Canada Issues Pessimistic Forecast for Bank of Nova Scotia (NYSE:BNS) Stock Price

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) had its price target lowered by Royal Bank of Canada from $83.00 to $81.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the bank’s stock. Royal Bank of Canada’s price objective points to a potential upside of 63.06% from the stock’s current price.

A number of other analysts have also recently issued reports on BNS. TD Securities upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Bank of America raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 19th. CIBC reaffirmed a “neutral” rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Cibc World Mkts lowered shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $75.50.

Bank of Nova Scotia Stock Performance

BNS stock opened at $49.68 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $61.87 billion, a P/E ratio of 11.50, a P/E/G ratio of 1.16 and a beta of 1.07. The firm has a 50 day simple moving average of $51.72 and a 200 day simple moving average of $52.35. Bank of Nova Scotia has a 52 week low of $43.67 and a 52 week high of $57.07.

Institutional Trading of Bank of Nova Scotia

A number of large investors have recently bought and sold shares of BNS. Blue Trust Inc. boosted its position in Bank of Nova Scotia by 171.6% during the 3rd quarter. Blue Trust Inc. now owns 1,578 shares of the bank’s stock worth $86,000 after acquiring an additional 997 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in Bank of Nova Scotia during the 3rd quarter worth approximately $221,000. Assenagon Asset Management S.A. boosted its position in Bank of Nova Scotia by 110.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 91,862 shares of the bank’s stock worth $5,011,000 after acquiring an additional 48,147 shares during the last quarter. Pathway Financial Advisers LLC boosted its position in Bank of Nova Scotia by 5,380.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 3,972,234 shares of the bank’s stock worth $216,447,000 after acquiring an additional 3,899,760 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its position in Bank of Nova Scotia by 12.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 7,890 shares of the bank’s stock worth $430,000 after acquiring an additional 878 shares during the last quarter. 49.13% of the stock is owned by institutional investors.

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.