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Published: Fri, June 02, 2017
Economy | By Melissa Porter

Scotiabank quarterly earnings beat market expectations

Scotiabank quarterly earnings beat market expectations

Bank of Nova Scotia (NYSE:BNS) has risen 16.52% since May 31, 2016 and is uptrending.

Toronto Dominion Bank, which manages about $33.78B US Long portfolio, decreased its stake in Valspar Corp/The (NYSE:VAL) by 149,997 shares to 300,653 shares, valued at $31.15 million in 2016Q4, according to the filing. O Shaughnessy Asset Management LLC's holdings in Bank of Nova Scotia were worth $34,098,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. The stock of Bank of Nova Scotia (TSE:BNS) earned "Market Perform" rating by KBW on Tuesday, August 18. About 243.49 million shares traded. The firm's quarterly revenue was down.2% compared to the same quarter a year ago.

12/17/2015 - Bank of Nova Scotia (The) had its "neutral" rating reiterated by analysts at Credit Suisse. Great West Life Assurance Co. Janney Montgomery Scott LLC purchased a new position in Bank of Nova Scotia during the first quarter valued at approximately $203,000.

WARNING: "Bank of Nova Scotia (BNS) Given New C$89.00 Price Target at Scotiabank" was originally published by Stock Observer and is the property of of Stock Observer. Moreover, Rice Hall James & Associates Llc has 0.84% invested in the company for 425,435 shares.

The stock's 50 day moving average is 56.19 and its 200 day moving average is 57.61. The rating was maintained by RBC Capital Markets on Wednesday, December 2 with "Outperform".

Bank of Nova Scotia said profit rose in its latest quarter as a decline in expenses helped offset lower revenue from stock trading. The bank reported $1.63 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $1.56 by $0.07. The firm had revenue of $6.58 billion for the quarter, compared to analysts' expectations of $6.61 billion. Bank of Nova Scotia had a return on equity of 14.36% and a net margin of 20.78%. This represents a $2.25 dividend on an annualized basis and a dividend yield of 3.99%. The Mackenzie Financial Corp holds 6.20 million shares with $344.59 million value, up from 5.44 million last quarter.

Bank of Nova Scotia (The) was upgraded to "overweight" by analysts at Barclays. Scotia Capital maintained it with "Outperform" rating and $90 target in Friday, February 3 report. If you are viewing this article on another website, it was copied illegally and reposted in violation of USA & worldwide copyright & trademark law. RBC Capital Markets maintained Bank of Nova Scotia (NYSE:BNS) rating on Wednesday, August 31. The rating was maintained by RBC Capital Markets with "Outperform" on Wednesday, August 31. More interesting news about Bank of Nova Scotia (NYSE:BNS) were released by: Seekingalpha.com and their article: "Bank Of Nova Scotia: 185 Years Of Consecutive Dividends And Counting" published on May 16, 2017 as well as Reuters.com's news article titled: "BRIEF-Taiwan's Cathay Financial units to acquire Malaysia's Bank of Nova ..." with publication date: May 26, 2017. Finally, TD Securities cut Bank of Nova Scotia from an "action list buy" rating to a "buy" rating and set a C$88.00 price target for the company.in a research note on Wednesday, March 1st. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and ten have issued a buy recommendation on the company.

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