Why Bank of Nova Scotia (BNS) Stock Is Up Today

Bank of Nova Scotia (BNS) is up 4.7% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver is a strong fiscal third-quarter earnings report that showed record results and topped market expectations. Investors also appear to be responding to improving profitability across multiple business lines, lower credit-loss pressure in key areas, and continued capital returns.

Details:

Bank of Nova Scotia reported third-quarter net income of C$2.95 billion, up from C$2.53 billion a year earlier, while adjusted diluted EPS rose to C$2.28 from C$1.88.

The quarter appears to have beaten consensus profit estimates, which can support a sharp positive move in bank shares when results come in ahead of expectations.

Management called it a record quarter, with Canadian Banking, Global Wealth Management, and Global Banking and Markets all delivering strong or record performance, helped by margin expansion, fee growth, and underwriting and advisory strength.

The bank also reported a 13.1% CET1 capital ratio, repurchased 8.6 million shares during the quarter, and said it had returned C$6.3 billion to shareholders year to date through buybacks and dividends.

Sources:

Scotiabank, Yahoo Finance, StreetInsider

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$BNS Hedge Fund Activity

We have seen 272 institutional investors add shares of $BNS stock to their portfolio, and 215 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

JPMORGAN CHASE & CO added 10,732,917 shares (+inf%) to their portfolio in Q2 2026, for an estimated $932,046,512
ROYAL BANK OF CANADA removed 5,999,289 shares (-8.4%) from their portfolio in Q2 2026, for an estimated $520,978,256
TD ASSET MANAGEMENT INC removed 5,091,494 shares (-26.5%) from their portfolio in Q2 2026, for an estimated $442,145,338
TORONTO DOMINION BANK removed 5,080,205 shares (-28.9%) from their portfolio in Q2 2026, for an estimated $441,165,002
BANK OF MONTREAL /CAN/ removed 4,145,336 shares (-7.4%) from their portfolio in Q2 2026, for an estimated $359,980,978
SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 4,085,942 shares (+inf%) to their portfolio in Q2 2026, for an estimated $354,823,203
ACADIAN ASSET MANAGEMENT LLC added 3,362,613 shares (+22.4%) to their portfolio in Q2 2026, for an estimated $292,009,312

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$BNS Price Targets

Multiple analysts have issued price targets for $BNS recently. We have seen 5 analysts offer price targets for $BNS in the last 6 months, with a median target of $113.0.

Here are some recent targets:

Mario Mendonca from TD Cowen set a target price of $113.0 on 05/28/2026
Brian Morton from Barclays set a target price of $110.0 on 05/28/2026
Darko Mihelic from RBC Capital set a target price of $117.0 on 05/28/2026
Paul Holden from CIBC set a target price of $122.0 on 05/28/2026
Matthew Lee from Canaccord Genuity set a target price of $110.0 on 03/09/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.