Bank Of Nova Scotia [NYSE: BNS] gained 1.06% or 0.49 points to close at $46.79 with a heavy trading volume of 3191376 shares. The company report on February 14, 2024 at 7:30 AM that Scotiabank announces departure of Jake Lawrence; Paul Scurfield and Michael Kruse take on expanded roles.
Scotiabank announced today that Jake Lawrence, Chief Executive Officer and Group Head, Global Banking and Markets, has made the decision to leave the Bank to join Power Corporation of Canada. Mr. Lawrence joined Scotiabank in 2002, and has held progressively senior roles in Finance, Treasury and Global Banking and Markets, most recently leading the Bank’s wholesale banking and capital markets business.
“I would like to thank Jake for his significant contributions over his impressive 22-year career with Scotiabank and wish him every success as he joins another storied Canadian institution. Under Jake’s leadership of the Global Banking and Markets business, we have strengthened our brand and prioritized alignment in our key markets, building out our presence in the U.S. and positioning this business well for future growth,” said Scott Thomson, President and Chief Executive Officer for Scotiabank. “Among his many contributions, Jake has built a talented team that is strongly positioned to deliver against our strategy for sustainable and profitable growth across our priority markets.”.
The daily chart for BNS points out that the company has recorded -0.09% loss over the past six months.
If we look at the average trading volume of 2.05M shares, BNS reached to a volume of 3191376 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 $48.18 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 3.14. 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 Bank Of Nova Scotia shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on May 09, 2023.
The Average True Range (ATR) for Bank Of Nova Scotia is set at 0.81, with the Price to Sales ratio for BNS stock in the period of the last 12 months amounting to 1.10. The Price to Book ratio for the last quarter was 1.15. Price to Free Cash Flow for BNS in the course of the last twelve months was 6.99.
Trading performance analysis for BNS stock
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 0.71. With this latest performance, BNS shares gained by 0.84% in over the last four-week period, additionally sinking by -0.09% over the last 6 months – not to mention a drop of -15.80% 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 51.69, with the RSI for the last a single of trading hit 51.85, and the three-weeks RSI is set at 51.96 for Bank Of Nova Scotia [BNS]. The present Moving Average for the last 50 days of trading for this stock 46.54, while it was recorded at 46.67 for the last single week of trading, and 46.79 for the last 200 days.
Bank Of Nova Scotia [BNS]: A deeper dive into fundamental analysis
Bank Of Nova Scotia’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.69.
Bank Of Nova Scotia [BNS]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Bank Of Nova Scotia posted 1.35/share EPS, while the average EPS was predicted by analysts to be reported at 1.48/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -8.80%. 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 Bank Of Nova Scotia go to 5.90%.
An analysis of Institutional ownership at Bank Of Nova Scotia [BNS]
The top three institutional holders of BNS stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BNS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BNS stock with ownership which is approximately 5.8325%.
