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

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

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price objective decreased by Canaccord Genuity from C$76.00 to C$74.00 in a research note released on Wednesday morning, BayStreet.CA reports.

Several other research firms have also recently commented on BNS. National Bank Financial reduced their price target on Bank of Nova Scotia from C$80.00 to C$78.00 in a report on Wednesday, February 27th. CIBC cut Bank of Nova Scotia from an outperform rating to a neutral rating and reduced their price target for the company from C$86.00 to C$81.00 in a report on Wednesday, February 27th. BMO Capital Markets reissued an outperform rating and issued a C$82.00 price target on shares of Bank of Nova Scotia in a report on Wednesday, February 27th. Desjardins reduced their price target on Bank of Nova Scotia from C$83.00 to C$81.00 in a report on Wednesday, February 27th. Finally, TD Securities cut Bank of Nova Scotia from a buy rating to a hold rating and reduced their price target for the company from C$84.00 to C$80.00 in a report on Wednesday, February 27th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of C$83.55.

Shares of BNS traded up C$0.29 during mid-day trading on Wednesday, hitting C$71.39. The company’s stock had a trading volume of 303,802 shares, compared to its average volume of 2,699,810. The stock has a market capitalization of $87.49 billion and a P/E ratio of 10.70. Bank of Nova Scotia has a 1-year low of C$66.36 and a 1-year high of C$80.79.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last posted its quarterly earnings results on Tuesday, February 26th. The bank reported C$1.75 EPS for the quarter, missing the consensus estimate of C$1.87 by C($0.12). The firm had revenue of C$7.60 billion during the quarter, compared to analyst estimates of C$8.21 billion. As a group, sell-side analysts expect that Bank of Nova Scotia will post 7.78653710240805 EPS for the current fiscal year.

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

About Bank of Nova Scotia

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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