Bank Of Nova Scotia (BNS) Stock Could Soon Reward Patient Investors

Bank Of Nova Scotia (NYSE: BNS) is -2.67% lower on its value in year-to-date trading and has touched a low of $39.79 and a high of $55.91 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The BNS stock was last observed hovering at around $47.00 in the last trading session, with the day’s gains setting it 0.39%.

Currently trading at $47.39, the stock is 2.25% and 2.10% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.78 million and changing 0.83% at the moment leaves the stock 1.20% off its SMA200. BNS registered -12.76% loss for a year compared to 6-month loss of -1.33%.

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The stock witnessed a 1.22% gain in the last 1 month and extending the period to 3 months gives it a 11.01%, and is 2.53% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.56% over the week and 1.51% over the month.

Bank Of Nova Scotia (BNS) has around Jan 02 2024 employees, a market worth around $57.53B and $51.82B in sales. Current P/E ratio is 11.03 and Fwd P/E is 9.13. Profit margin for the company is 10.01%. Distance from 52-week low is 19.09% and -15.24% from its 52-week high. The company has generated returns on investments over the last 12 months (5.66%).

Bank Of Nova Scotia quarterly earnings per share for the current quarter are estimated at $1.21 with sales reaching $6.04B over the same period.The EPS is expected to grow by 0.36% this year, but quarterly earnings will post 3.50% year-over-year.

Bank Of Nova Scotia (BNS) Top Institutional Holders

713 institutions hold shares in Bank Of Nova Scotia (BNS), with institutional investors hold 48.56% of the company’s shares. The shares outstanding are 1.21B, and float is at 1.21B with Short Float at 1.70%. Institutions hold 48.54% of the Float.

The top institutional shareholder in the company is Royal Bank of Canada with over 106.81 million shares valued at $5.34 billion. The investor’s holdings represent 8.86% of the BNS Shares outstanding. As of Jun 29, 2023, the second largest holder is Bank of Montreal/Can/ with 83.51 million shares valued at $4.18 billion to account for 6.93% of the shares outstanding. The other top investors are Vanguard Group Inc which holds 44.97 million shares representing 3.73% and valued at over $2.25 billion, while Cibc World Markets, Inc. holds 2.13% of the shares totaling 25.72 million with a market value of $1.29 billion.

Bank Of Nova Scotia (BNS): Who are the competitors?

The company’s main competitors (and peers) include Toronto-Dominion Bank (TD) that is trading -15.30% down over the past 12 months. Nano Labs Ltd. (NA) that is 62.12% higher over the same period.