The Bank Of Nova Scotia Bottom Line Advances 10% In Q1

UPDATE 1-Scotiabank reports earnings just above expectations

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. Scotiabank has built long-term value and recorded consistent earnings growth by building on its core strengths and by executing exceptionally well in its core businesses.

Other large investors have also recently bought and sold shares of the company.

Bank of Nova Scotia shares have climbed almost 7 percent since the beginning of the year. Finally, Credit Suisse Group reiterated a "neutral" rating on shares of Bank of Nova Scotia (The) in a research report on Monday, November 14th.

11/23/2015 - Bank of Nova Scotia (The) had its "market perform" rating reiterated by analysts at Keefe, Bruyette & Woods. The stock has a consensus rating of "Buy" and a consensus price target of C$82.50. Canaccord Genuity raised their price objective on Bank of Nova Scotia from C$75.00 to C$78.00 in a report on Tuesday, November 22nd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock now has a consensus rating of "Buy" and an average price target of C$81.86.

The company said its bottom line came in at C$1.91 billion, or C$1.57 per share.

The four countries, which formed a trading alliance in 2011, have a growing middle class and an average age of under 30 and were identified by Scotiabank executives as having exceptional potential for growth. The stock has a market capitalization of $94.69 billion and a price-to-earnings ratio of 13.59. The stock has climbed 50 percent in the last 12 months. Bank of Nova Scotia has a 1-year low of $53.73 and a 1-year high of $82.30.

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Bank of Nova Scotia is the latest among Canada's biggies to boost its dividend amid higher first-quarter results. The company reported $1.57 earnings per share for the quarter, topping the Zacks' consensus estimate of $1.51 by $0.06.

The bank, which bills itself as Canada's most worldwide bank, also said its Canadian and global banking businesses saw notable improvements in the quarter amid higher net interest margins and wealth management revenues.

BMO said then its core tier 1 ratio was 10.0 percent at the end of last August, not the 10.5 percent initially reported, the weakest of any major Canadian bank. Bank of Nova Scotia (The)(BNS) has the most recent dividend payout ratio of 0.49 with a 5-year average payout ratio of 0.46. Shareholders of record on Tuesday, April 4th will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.95%. The ex-dividend date is Thursday, December 29th. TD Securities lifted their target price on shares of Bank of Nova Scotia from C$80.00 to C$83.00 and gave the stock an "action list buy" rating in a research note on Wednesday, November 30th.

Loan-loss provisions - or the amount of money set aside to cover soured loans - rose slightly to C$553 million from C$539 million a year earlier, which the bank attributed to higher provisions in its Canadian and worldwide retail and commercial lending businesses. Renaissance Technologies LLC owned approximately 0.06% of Bank of Nova Scotia (The) worth $37,305,000 at the end of the most recent reporting period. Edge Asset Management Inc. boosted its stake in Bank of Nova Scotia (The) by 29.6% in the fourth quarter.

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 Columbia.

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