Bank of Nova Scotia (BNS) Soars 3.48% in Nine Days, Hits 2025 High

The Bank of Nova Scotia (BNS) has seen a significant rise, with a 0.51% increase, marking its ninth consecutive day of gains and a 3.48% surge over the past nine days. The share price reached its highest level since January 2025 today, with an intraday decline of NaN%.

The strategy of buying BNS shares after they reach a recent high and holding for one week resulted in a 9.10% return over the past five years, compared to a benchmark return of 44.90%. The strategy had a Sharpe ratio of 0.21, a maximum drawdown of -21.11%, and a volatility of 17.79%. It effectively managed risk but provided conservative returns, making it suitable for investors seeking stability.

Jefferies Financial Group recently adjusted its price target for The Bank of Nova Scotia, lowering it from C$76.00 to C$70.00. This revision could impact the stock's valuation and investor sentiment, as it suggests a more conservative outlook on the bank's future performance.

National Bank Financial and other analysts have also revised their earnings estimates for The Bank of Nova Scotia. The consensus estimate for full-year earnings has been reduced to $7.13 per share. These adjustments could influence the stock's performance, as investors may perceive the lowered estimates as a negative indicator of the bank's financial health.

Recent market volatility has also played a role in the stock's fluctuations. The Bank of Nova Scotia's stock has traded near $70 per share, having previously reached highs of $80 and lows of $63. This volatility reflects broader market trends and investor uncertainty, which can affect the stock's price movements.