Bank of Nova Scotia (TSE:BNS) Cut to “Neutral” at CIBC

CIBC cut shares of Bank of Nova Scotia (TSE:BNS – Get Rating) (NYSE:BNS) from an outperform rating to a neutral rating in a research report report published on Monday, MarketBeat Ratings reports. CIBC currently has C$94.00 price target on the bank’s stock, down from their previous price target of C$105.00.

A number of other equities analysts have also commented on the company. BMO Capital Markets raised their price objective on Bank of Nova Scotia from C$93.00 to C$95.00 in a research note on Wednesday, March 2nd. TD Securities downgraded Bank of Nova Scotia from a buy rating to a hold rating and set a C$100.00 target price on the stock. in a report on Thursday, March 10th. Canaccord Genuity Group raised their target price on Bank of Nova Scotia from C$98.00 to C$100.00 in a report on Thursday, February 17th. National Bankshares raised their target price on Bank of Nova Scotia from C$86.00 to C$90.00 in a report on Wednesday, February 23rd. Finally, Barclays raised their target price on Bank of Nova Scotia from C$84.00 to C$96.00 and gave the company an equal weight rating in a report on Wednesday, January 19th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Bank of Nova Scotia has a consensus rating of Hold and a consensus price target of C$92.72.

Shares of TSE BNS opened at C$86.96 on Monday. The business’s 50 day moving average is C$91.70 and its 200-day moving average is C$87.19. Bank of Nova Scotia has a 1-year low of C$75.84 and a 1-year high of C$95.00. The firm has a market cap of C$104.74 billion and a P/E ratio of 10.90.

Bank of Nova Scotia (TSE:BNS – Get Rating) (NYSE:BNS) last posted its quarterly earnings data on Tuesday, March 1st. The bank reported C$2.15 EPS for the quarter, topping the Zacks’ consensus estimate of C$2.07 by C$0.08. The company had revenue of C$8.05 billion for the quarter, compared to the consensus estimate of C$7.79 billion. On average, research analysts predict that Bank of Nova Scotia will post 8.7999999 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 27th. Investors of record on Tuesday, April 5th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Monday, April 4th. Bank of Nova Scotia’s dividend payout ratio (DPR) is 46.37%.

Bank of Nova Scotia Company Profile (Get Rating)

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 Banking and Markets, and Global Wealth Management segments.

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