The Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) – Stock analysts at Cormark issued their Q3 2022 earnings estimates for Bank of Nova Scotia in a research report issued on Wednesday, May 25th. Cormark analyst L. Persaud forecasts that the bank will post earnings of $1.64 per share for the quarter. Cormark also issued estimates for Bank of Nova Scotia’s Q4 2022 earnings at $1.68 EPS, Q1 2023 earnings at $1.76 EPS, Q2 2023 earnings at $1.64 EPS, Q3 2023 earnings at $1.76 EPS and Q4 2023 earnings at $1.81 EPS.

Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) last released its earnings results on Wednesday, May 25th. The bank reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.65. Bank of Nova Scotia had a return on equity of 15.22% and a net margin of 25.54%. The business had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $7.87 billion. During the same period last year, the business posted $1.50 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis.

Other equities analysts have also issued reports about the company. Desjardins raised their price target on Bank of Nova Scotia from C$95.00 to C$99.00 in a report on Thursday, March 3rd. Royal Bank of Canada raised their price target on Bank of Nova Scotia from C$93.00 to C$94.00 in a report on Thursday. Canaccord Genuity Group raised their price target on Bank of Nova Scotia from C$89.00 to C$92.00 in a report on Thursday. National Bank Financial raised their price target on Bank of Nova Scotia from C$90.00 to C$91.00 in a report on Thursday. Finally, TD Securities lifted their price objective on Bank of Nova Scotia from C$88.00 to C$90.00 in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $92.61.

Bank of Nova Scotia stock opened at $66.05 on Friday. Bank of Nova Scotia has a one year low of $59.05 and a one year high of $74.86. The business has a fifty day moving average price of $67.32 and a 200-day moving average price of $69.20. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $79.11 billion, a P/E ratio of 10.40, a PEG ratio of 1.59 and a beta of 0.94.

Several hedge funds have recently bought and sold shares of BNS. Bank of Nova Scotia grew its holdings in shares of Bank of Nova Scotia by 0.5% during the 3rd quarter. Bank of Nova Scotia now owns 66,488 shares of the bank’s stock worth $4,091,000 after acquiring an additional 328 shares during the period. Vident Investment Advisory LLC boosted its position in shares of Bank of Nova Scotia by 74.4% in the 3rd quarter. Vident Investment Advisory LLC now owns 8,299 shares of the bank’s stock worth $511,000 after purchasing an additional 3,540 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Bank of Nova Scotia by 12.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,136,839 shares of the bank’s stock worth $192,691,000 after purchasing an additional 358,362 shares in the last quarter. Credit Suisse AG lifted its position in Bank of Nova Scotia by 10.0% in the 3rd quarter. Credit Suisse AG now owns 2,081,363 shares of the bank’s stock valued at $128,067,000 after acquiring an additional 189,975 shares in the last quarter. Finally, Nicola Wealth Management LTD. lifted its stake in Bank of Nova Scotia by 273.9% during the 3rd quarter. Nicola Wealth Management LTD. now owns 1,155,500 shares of the bank’s stock valued at $70,703,000 after acquiring an additional 846,500 shares during the period. Hedge funds and other institutional investors own 45.01% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Tuesday, July 5th will be issued a dividend of $0.801 per share. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $0.79. The ex-dividend date is Friday, July 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.85%. Bank of Nova Scotia’s dividend payout ratio is 50.39%.

Bank of Nova Scotia Company Profile (Get Rating)

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 in four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.

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