Desjardins Predicts Higher Earnings for Bank of Nova Scotia

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) – Research analysts at Desjardins increased their FY2025 earnings per share (EPS) estimates for shares of Bank of Nova Scotia in a research report issued to clients and investors on Tuesday, February 25th. Desjardins analyst D. Young now forecasts that the bank will post earnings of $5.04 per share for the year, up from their prior estimate of $5.01. The consensus estimate for Bank of Nova Scotia’s current full-year earnings is $4.91 per share.

Several other research analysts have also recently weighed in on BNS. 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. Bank of America upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 19th. TD Securities upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Royal Bank of Canada reduced their target price on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating for the company in a research report on Wednesday. Finally, Barclays upgraded shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Bank of Nova Scotia presently has an average rating of “Hold” and an average price target of $75.50.

Bank of Nova Scotia Price Performance

Shares of BNS opened at $49.68 on Friday. The company’s 50-day moving average is $51.72 and its 200-day moving average is $52.35. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $61.87 billion, a PE ratio of 11.50, a PEG ratio of 1.16 and a beta of 1.07. Bank of Nova Scotia has a fifty-two week low of $43.67 and a fifty-two week high of $57.07.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. grew its position in Bank of Nova Scotia by 12.5% in the third quarter. First Trust Direct Indexing L.P. now owns 7,890 shares of the bank’s stock valued at $430,000 after acquiring an additional 878 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in shares of Bank of Nova Scotia by 1.1% during the third quarter. Pinnacle Associates Ltd. now owns 27,800 shares of the bank’s stock worth $1,515,000 after buying an additional 300 shares during the last quarter. 1620 Investment Advisors Inc. lifted its stake in shares of Bank of Nova Scotia by 1,702.2% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 4,866 shares of the bank’s stock valued at $265,000 after acquiring an additional 4,596 shares during the last quarter. US Bancorp DE increased its holdings in Bank of Nova Scotia by 25.7% in the 3rd quarter. US Bancorp DE now owns 84,281 shares of the bank’s stock worth $4,592,000 after purchasing an additional 17,232 shares in the last quarter. Finally, Keystone Financial Planning Inc. boosted its stake in shares of Bank of Nova Scotia by 4.6% during the third quarter. Keystone Financial Planning Inc. now owns 133,461 shares of the bank’s stock valued at $7,272,000 after purchasing an additional 5,870 shares in the last quarter. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.7415 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a yield of 5.97%. Bank of Nova Scotia’s payout ratio is 68.06%.

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.