CIBC Raises Bank of Nova Scotia (BNS) Price Target to C$93.00


Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price objective boosted by CIBC from C$87.00 to C$93.00 in a note issued to investors on Monday, November 13th. CIBC’s price objective suggests a potential upside of 13.64% from the stock’s current price.

A number of other research firms have also commented on BNS. Scotiabank reduced their price objective on shares of Bank of Nova Scotia from C$89.00 to C$88.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 30th. Barclays increased their target price on shares of Bank of Nova Scotia from C$86.00 to C$88.00 in a research note on Friday, August 11th. Canaccord Genuity upped their price objective on shares of Bank of Nova Scotia from C$88.00 to C$92.00 in a report on Wednesday, November 1st. National Bank Financial upped their price objective on shares of Bank of Nova Scotia from C$85.00 to C$86.00 and gave the stock an “outperform” rating in a report on Wednesday, August 30th. Finally, BMO Capital Markets increased their target price on shares of Bank of Nova Scotia from C$83.00 to C$85.00 and gave the company an “outperform” rating in a report on Wednesday, August 30th. Eight investment analysts have rated the stock with a buy rating, Bank of Nova Scotia currently has an average rating of “Buy” and an average price target of C$88.38.

Bank of Nova Scotia (TSE BNS) traded up C$0.33 during mid-day trading on Monday, reaching C$81.84. 1,739,700 shares of the company were exchanged, compared to its average volume of 2,143,457. Bank of Nova Scotia has a twelve month low of C$73.31 and a twelve month high of C$85.50.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last posted its quarterly earnings data on Tuesday, November 28th. The bank reported C$1.65 EPS for the quarter, missing the Zacks’ consensus estimate of C$1.68 by C($0.03). Bank of Nova Scotia had a net margin of 30.50% and a return on equity of 14.91%. The firm had revenue of C$6.81 billion during the quarter, compared to the consensus estimate of C$7.05 billion. During the same period in the prior year, the company posted $1.58 earnings per share.

In other Bank of Nova Scotia news, insider Kyle Mcnamara sold 3,036 shares of Bank of Nova Scotia stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of C$80.53, for a total transaction of C$244,489.08. Also, insider Deborah Alexander sold 7,114 shares of Bank of Nova Scotia stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of C$76.76, for a total transaction of C$546,070.64. Insiders sold 10,364 shares of company stock valued at $807,789 over the last 90 days.

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About Bank of Nova Scotia

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.

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