Royal Bank of Canada Trims Bank of Nova Scotia (TSE:BNS) Target Price to C$62.00

Bank of Nova Scotia (TSE:BNSFree Report) (NYSE:BNS) had its target price reduced by Royal Bank of Canada from C$64.00 to C$62.00 in a report released on Wednesday morning, BayStreet.CA reports. They currently have a sector perform rating on the bank’s stock.

A number of other equities research analysts also recently weighed in on the company. TD Securities dropped their target price on Bank of Nova Scotia from C$72.00 to C$69.00 in a research report on Friday, May 10th. BMO Capital Markets boosted their target price on Bank of Nova Scotia from C$69.00 to C$74.00 in a research report on Friday, April 5th. Jefferies Financial Group boosted their target price on Bank of Nova Scotia from C$66.00 to C$69.00 in a research report on Monday, May 13th. Canaccord Genuity Group boosted their target price on Bank of Nova Scotia from C$70.00 to C$71.00 and gave the stock a hold rating in a research report on Wednesday. Finally, CIBC upped their price objective on Bank of Nova Scotia from C$64.00 to C$68.00 and gave the company a neutral rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of C$67.74.

Get Our Latest Report on Bank of Nova Scotia

Bank of Nova Scotia Stock Performance

Shares of BNS opened at C$64.52 on Wednesday. The stock has a fifty day moving average price of C$65.78 and a two-hundred day moving average price of C$64.16. Bank of Nova Scotia has a 52-week low of C$55.20 and a 52-week high of C$70.40. The company has a market cap of C$79.36 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 1.33 and a beta of 0.98.

Bank of Nova Scotia Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Wednesday, July 3rd will be paid a $1.06 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $4.24 dividend on an annualized basis and a yield of 6.57%. Bank of Nova Scotia’s payout ratio is 69.97%.

Bank of Nova Scotia Company Profile

(Get Free Report)

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.

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