Cormark Cuts Earnings Estimates for Bank of Nova Scotia

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) – Equities research analysts at Cormark lowered their FY2025 earnings estimates for shares of Bank of Nova Scotia in a report issued on Wednesday, February 26th. Cormark analyst L. Persaud now anticipates that the bank will post earnings per share of $4.85 for the year, down from their prior estimate of $4.94. The consensus estimate for Bank of Nova Scotia’s current full-year earnings is $4.91 per share. Cormark also issued estimates for Bank of Nova Scotia’s FY2026 earnings at $5.57 EPS.

Other equities research analysts also recently issued research reports about the company. Bank of America upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Tuesday, November 19th. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Barclays raised shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research report on Thursday, November 21st. CIBC restated a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Finally, UBS Group upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Monday, November 18th. One investment 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $75.50.

Bank of Nova Scotia Stock Down 1.4 %

Shares of NYSE BNS opened at $49.68 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $51.72 and its two-hundred day moving average is $52.35. Bank of Nova Scotia has a 52-week low of $43.67 and a 52-week high of $57.07. The firm has a market cap of $61.87 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 1.16 and a beta of 1.07.

Institutional Trading of Bank of Nova Scotia

A number of large investors have recently made changes to their positions in BNS. Blue Trust Inc. grew its holdings 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 in the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Bank of Nova Scotia during the third quarter worth $221,000. Assenagon Asset Management S.A. grew its stake in shares of Bank of Nova Scotia by 110.1% during the third quarter. Assenagon Asset Management S.A. now owns 91,862 shares of the bank’s stock worth $5,011,000 after purchasing an additional 48,147 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in 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 buying an additional 3,899,760 shares during the last quarter. Finally, First Trust Direct Indexing L.P. raised its stake 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 buying an additional 878 shares in the last quarter. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Nova Scotia Cuts Dividend

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