Bank of Nova Scotia posts 1Q profit

BMO and Scotiabank continued the banks’ strong showing with BMO profit well beyond estimates and Scotiabank benefiting from its foreign businesses

Bank of Nova Scotia Trust Co. now owns 1,107,567 shares of the company's stock valued at $61,670,000 after buying an additional 374,786 shares during the period. Mackenzie Financial Corp raised its position in Bank of Nova Scotia (The) by 352.6% in the second quarter. This represents a $2.19 annualized dividend and a dividend yield of 3.89%.

11/23/2015 - Bank of Nova Scotia (The) had its "market perform" rating reiterated by analysts at Keefe, Bruyette & Woods. The Bank of Nova Scotia got Initiated on 1-Nov-16 where investment firm BofA/Merrill Initiated the stock to Buy. Bank of Nova Scotia has a 12-month low of $39.72 and a 12-month high of $62.89. Finally, National Bank Financial reiterated an "outperform" rating on shares of Bank of Nova Scotia in a research note on Monday, February 20th.

Chief Executive Brian Porter said during a conference call Tuesday morning that the bank "delivered strong results in the beginning of the year and we expect this momentum to continue for the rest of the year". TD Securities' target price points to a potential upside of 14.23% from the company's current price. The Bank offers a range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

The average estimate was C$1.57 per share, according to Thomson Reuters I/B/E/S data. The total market capitalization remained at $6.50 billion.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) - Equities research analysts at Cormark lowered their Q2 2017 earnings estimates for Bank of Nova Scotia in a report issued on Tuesday. The ex-dividend date was Thursday, December 29th.

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Several institutional investors have recently modified their holdings of BNS. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock.

Receive Bank of Nova Scotia (The) News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Nova Scotia (The) with MarketBeat.com's FREE daily email newsletter. They presently have a C$88.00 price objective on the stock.

Wealth management, which includes insurance, rose 81 percent to C$266 million, while BMO Capital Markets, coming off its most successful year for US dealmaking, posted a 46 percent increase in earnings to C$376 million. In the last Quarter, BNS reported a surprise Earnings per Share of 7.08%.

In the first quarter, BMO benefited from particularly strong performances from its Canadian retail, wealth management and capital markets businesses.

Scotiabank, which has the biggest foreign presence of any Canadian bank, is focusing its worldwide strategy on the Pacific Alliance, a Latin American trade bloc comprising Mexico, Peru, Chile and Colombia.

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