RBC Capital Mkts lifts The Bank of Nova Scotia [BNS] price estimate. Who else is bullish?

The Bank of Nova Scotia [NYSE: BNS] traded at a high on 11/10/22, posting a 6.23 gain after which it closed the day’ session at $51.81. The company report on November 10, 2022 that Jarislowsky Fraser Recognized as a Top Investment Manager by The Great Canadian ESG Championship.


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Demonstrated depth of ESG integration and stewardship, combined with innovation through proprietary climate and diversity & inclusion frameworks, to win in the multi-asset category.

Jarislowsky, Fraser Limited (Jarislowsky Fraser) has been selected as a top investment manager in the multi-asset category, winning $25 million of mandates out of a total investment pool of $104.5 million, as announced by The Great Canadian ESG Championship earlier today. The competition took place this year with nine co-investors, with the goal of shining a light on the asset managers who are excelling in responsible investing, to inspire others, and to give asset owners a curated jumping off point to help accelerate their ESG investing.

The results of the trading session contributed to over 4940047 shares changing hands. Over the past one week, the price volatility of The Bank of Nova Scotia stands at 2.15% while the volatility over the past one month is 2.25%.

The market cap for BNS stock reached $61.63 billion, with 1.20 billion shares outstanding and 1.19 billion shares in the current float. Compared to the average trading volume of 2.01M shares, BNS reached a trading volume of 4940047 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $72.34 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 3.00. 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.

RBC Capital Mkts have made an estimate for The Bank of Nova Scotia shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on August 24, 2022. The new note on the price target was released on August 24, 2022, representing the official price target for The Bank of Nova Scotia stock. Previously, the target price had yet another raise to $95, while BMO Capital Markets analysts kept a Market Perform rating on BNS stock.

The Average True Range (ATR) for The Bank of Nova Scotia is set at 1.26, with the Price to Sales ratio for BNS stock in the period of the last 12 months amounting to 2.93. The Price to Book ratio for the last quarter was 1.30, with the Price to Cash per share for the same quarter was set at 241.43. Price to Free Cash Flow for BNS in the course of the last twelve months was 4.25.

How has BNS stock performed recently?

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 9.84. With this latest performance, BNS shares gained by 11.92% in over the last four-week period, additionally sinking by -15.97% over the last 6 months – not to mention a drop of -21.73% 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 63.25, with the RSI for the last a single of trading hit 71.31, and the three-weeks RSI is set at 56.91 for The Bank of Nova Scotia [BNS]. The present Moving Average for the last 50 days of trading for this stock 50.01, while it was recorded at 49.59 for the last single week of trading, and 61.73 for the last 200 days.

The Bank of Nova Scotia [BNS]: Deeper insight into the 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.

Earnings analysis for The Bank of Nova Scotia [BNS]

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 4.15%.

Insider trade positions for The Bank of Nova Scotia [BNS]

There are presently around $28,620 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 110,786,192, which is approximately 1.514% of the company’s market cap and around 0.02% of the total institutional ownership; BANK OF MONTREAL /CAN/, holding 64,266,814 shares of the stock with an approximate value of $3.33 billion in BNS stocks shares; and VANGUARD GROUP INC, currently with $2.16 billion in BNS stock with ownership of nearly 1.917% 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 218 institutional holders increased their position in The Bank of Nova Scotia [NYSE:BNS] by around 44,889,027 shares. Additionally, 178 investors decreased positions by around 31,763,087 shares, while 78 investors held positions by with 475,743,943 shares. The mentioned changes placed institutional holdings at 552,396,057 shares, according to the latest SEC report filing. BNS stock had 50 new institutional investments in for a total of 8,010,981 shares, while 46 institutional investors sold positions of 938,958 shares during the same period.

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