Bank Of Nova Scotia [NYSE: BNS] loss -0.10% or -0.05 points to close at $48.97 with a heavy trading volume of 3839726 shares. The company report on April 9, 2024 at 4:30 PM that Scotiabank Announces Election of Directors.
Scotiabank announced that the nominees listed in the management proxy circular dated February 7, 2024 were elected as directors of the Bank. The detailed results of the vote for the election of directors held at its Annual Meeting of Shareholders on April 9, 2024 are set out below.
The daily chart for BNS points out that the company has recorded 10.52% gains over the past six months.
If we look at the average trading volume of 2.12M shares, BNS reached to a volume of 3839726 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 $50.41 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 March 20, 2024. While these analysts kept the previous recommendation, Jefferies raised their target price to Hold. The new note on the price target was released on February 22, 2024, representing the official price target for Bank Of Nova Scotia stock.
The Average True Range (ATR) for Bank Of Nova Scotia is set at 0.79, with the Price to Sales ratio for BNS stock in the period of the last 12 months amounting to 1.12. The Price to Book ratio for the last quarter was 1.14. Price to Free Cash Flow for BNS in the course of the last twelve months was 4.42.
Trading performance analysis for BNS stock
Bank Of Nova Scotia [BNS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.94. With this latest performance, BNS shares dropped by -2.04% in over the last four-week period, additionally plugging by 10.52% over the last 6 months – not to mention a drop of -3.09% 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 43.49, with the RSI for the last a single of trading hit 36.77, and the three-weeks RSI is set at 47.73 for Bank Of Nova Scotia [BNS]. The present Moving Average for the last 50 days of trading for this stock 48.81, while it was recorded at 49.76 for the last single week of trading, and 46.81 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 0.66.
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 1.29/share EPS, while the average EPS was predicted by analysts to be reported at 1.34/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -3.70%. 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 6.30%.
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 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in BNS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in BNS stock with ownership which is approximately 5.8386%.
