Bank of Nova Scotia (BNS) PT Lowered to C$74.00

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Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price target cut by Canaccord Genuity from C$76.00 to C$74.00 in a research report sent to investors on Wednesday, BayStreet.CA reports.

A number of other equities research analysts have also issued reports on the company. CIBC lowered Bank of Nova Scotia from an outperform rating to a neutral rating and cut their target price for the stock from C$86.00 to C$81.00 in a research report on Wednesday, February 27th. Desjardins cut their target price on Bank of Nova Scotia from C$83.00 to C$81.00 in a research report on Wednesday, February 27th. National Bank Financial cut their target price on Bank of Nova Scotia from C$80.00 to C$78.00 in a research report on Wednesday, February 27th. BMO Capital Markets reissued an outperform rating and set a C$82.00 price target on shares of Bank of Nova Scotia in a research report on Wednesday, February 27th. Finally, TD Securities lowered Bank of Nova Scotia from a buy rating to a hold rating and dropped their price target for the company from C$84.00 to C$80.00 in a research report on Wednesday, February 27th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Bank of Nova Scotia currently has a consensus rating of Buy and a consensus target price of C$83.08.

Shares of Bank of Nova Scotia stock opened at C$71.45 on Wednesday. The firm has a market cap of $87.59 billion and a PE ratio of 10.71. Bank of Nova Scotia has a 12-month low of C$66.36 and a 12-month high of C$80.79.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its earnings results on Tuesday, February 26th. The bank reported C$1.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.87 by C($0.12). The firm had revenue of C$7.60 billion during the quarter, compared to the consensus estimate of C$8.21 billion. Research analysts anticipate that Bank of Nova Scotia will post 7.78653710240805 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Tuesday, April 2nd were given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 4.87%. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Monday, April 1st. Bank of Nova Scotia’s payout ratio is presently 50.08%.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.

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Analyst Recommendations for Bank of Nova Scotia (TSE:BNS)

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