Dundee Initiates Coverage on Bank of Nova Scotia to Buy

Dundee Initiates Coverage on Bank of Nova Scotia(NYSE:BNS). The shares have been rated Buy. The rating by Dundee was issued on Sep 21, 2016.

Bank of Nova Scotia (BNS) made into the market gainers list on Tuesdays trading session with the shares advancing 0.57% or 0.3 points. Due to strong positive momentum, the stock ended at $53.31, which is also near the day’s high of $53.44. The stock began the session at $53.19 and the volume stood at 5,62,326 shares. The 52-week high of the shares is $55.14 and the 52 week low is $35.01. The company has a current market capitalization of $64,221 M and it has 1,20,46,79,000 shares in outstanding.

Bank of Nova Scotia(BNS) last announced its earnings results on Aug 30, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $5.11B. Analysts had an estimated revenue of $4.99B. Earnings per share were $1.19. Analysts had estimated an EPS of $1.12.

The Bank of Nova Scotia (the Bank) is a Canada-based diversified financial institution. The Bank offered a range of products and services including retail commercial corporate and investment banking to more than 21 million customers in more than 55 countries around the world. The Bank has four business lines: Canadian Banking International Banking Scotia Capital and Global Wealth Management. The Canadian Banking segment provided a range of banking and investing services to more than 7.7 million customers across Canada through a network of 1190 branches 3869 automated banking machine (ABMs) as well as telephone Internet banking and third-party channels. International Banking includes Scotiabank’s retail and commercial banking operations in more than 55 countries outside Canada. Global Wealth Management (GWM) consists of wealth management insurance and Global Transaction Banking businesses.

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