The Bank of Nova Scotia [BNS] Stock trading around $73.38 per share: What’s Next?

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The Bank of Nova Scotia [NYSE: BNS] price surged by 0.53 percent to reach at $0.39. The company report on January 12, 2022 that Scotiabank hosts employee Allyship Summit for Change to support culture of inclusion and belonging.

Recognizing the importance of continuous learning in advancing Diversity, Equity and Inclusion, Scotiabank today hosted an Allyship Summit for Change for its 90,000 employees.


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Sessions on why allyship matters, unconscious bias and privilege, inclusive hiring and effective allyship best practices have been made available to all Scotiabank employees. Kenji Yoshino, Chief Justice Earl Warren Professor of Constitutional Law at NYU School of Law and Director of its Center for Diversity, Inclusion, and Belonging, spoke alongside other experts in Diversity, Equity and Inclusion in Canada and Chile. Learning tools and resources have also been made available for employees to support their ongoing journey of becoming active allies encouraging momentum 365 days of the year.

A sum of 2825851 shares traded at recent session while its average daily volume was at 1.37M shares. The Bank of Nova Scotia shares reached a high of $73.99 and dropped to a low of $73.16 until finishing in the latest session at $73.38.

The one-year BNS stock forecast points to a potential upside of 2.9. The average equity rating for BNS stock is currently 1.50, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on The Bank of Nova Scotia [BNS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BNS shares is $75.57 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BNS stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Barclays have made an estimate for The Bank of Nova Scotia shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on June 08, 2021. The new note on the price target was released on June 02, 2021, representing the official price target for The Bank of Nova Scotia stock. Previously, the target price had yet another raise from $83 to $86, while CIBC kept a Sector Outperform rating on BNS stock.

The Average True Range (ATR) for The Bank of Nova Scotia is set at 1.01, with the Price to Sales ratio for BNS stock in the period of the last 12 months amounting to 4.50. The Price to Book ratio for the last quarter was 1.76, with the Price to Cash per share for the same quarter was set at 264.19.

BNS Stock Performance Analysis:

The Bank of Nova Scotia [BNS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.79. With this latest performance, BNS shares gained by 9.52% in over the last four-week period, additionally plugging by 16.68% over the last 6 months – not to mention a rise of 35.04% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BNS stock in for the last two-week period is set at 71.20, with the RSI for the last a single of trading hit 73.54, and the three-weeks RSI is set at 68.85 for The Bank of Nova Scotia [BNS]. The present Moving Average for the last 50 days of trading for this stock 67.79, while it was recorded at 72.45 for the last single week of trading, and 64.73 for the last 200 days.

Insight into The Bank of Nova Scotia Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and The Bank of Nova Scotia [BNS] shares currently have an operating margin of +30.67. The Bank of Nova Scotia’s Net Margin is presently recorded at +25.23.

Return on Equity for this stock inclined to 13.85, with Return on Assets sitting at 0.83.

BNS Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BNS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for The Bank of Nova Scotia go to 10.25%.

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The Bank of Nova Scotia [BNS] Insider Position Details

There are presently around $41,263 million, or 65.50% of BNS stock, in the hands of institutional investors. The top three institutional holders of BNS stocks are: ROYAL BANK OF CANADA with ownership of 107,297,342, which is approximately -1.669% of the company’s market cap and around 0.02% of the total institutional ownership; BANK OF MONTREAL /CAN/, holding 63,947,480 shares of the stock with an approximate value of $4.69 billion in BNS stocks shares; and VANGUARD GROUP INC, currently with $2.84 billion in BNS stock with ownership of nearly 3.255% of the company’s market capitalization.

Positions in The Bank of Nova Scotia stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 199 institutional holders increased their position in The Bank of Nova Scotia [NYSE:BNS] by around 40,822,853 shares. Additionally, 141 investors decreased positions by around 28,392,559 shares, while 94 investors held positions by with 493,109,472 shares. The mentioned changes placed institutional holdings at 562,324,884 shares, according to the latest SEC report filing. BNS stock had 54 new institutional investments in for a total of 8,738,710 shares, while 26 institutional investors sold positions of 937,623 shares during the same period.