Bank of Nova Scotia (TSE:BNS) Given New C$78.00 Price Target at UBS Group

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price cut by UBS Group from C$85.00 to C$78.00 in a research note issued to investors on Tuesday,BayStreet.CA reports.

Several other brokerages have also recently weighed in on BNS. TD Securities set a C$81.00 target price on Bank of Nova Scotia and gave the company a “buy” rating in a research note on Tuesday, March 4th. Cibc World Mkts lowered shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Bank of America cut shares of Bank of Nova Scotia from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from C$82.00 to C$70.00 in a research note on Monday, March 31st. Royal Bank of Canada cut their target price on shares of Bank of Nova Scotia from C$83.00 to C$81.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Finally, CIBC reduced their target price on shares of Bank of Nova Scotia from C$81.00 to C$75.00 in a report on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Bank of Nova Scotia has an average rating of “Hold” and an average price target of C$76.45.

Bank of Nova Scotia Stock Performance

Shares of TSE BNS opened at C$71.78 on Tuesday. Bank of Nova Scotia has a 1 year low of C$60.68 and a 1 year high of C$80.14. The firm has a market cap of C$87.96 billion, a P/E ratio of 11.34, a PEG ratio of 1.33 and a beta of 0.97. The stock has a fifty day moving average price of C$67.82 and a two-hundred day moving average price of C$72.47.

Bank of Nova Scotia Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Monday, April 28th were given a $1.06 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $4.24 annualized dividend and a dividend yield of 5.91%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 67.00%.

About Bank of Nova Scotia

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.