Bank of Nova Scotia (TSE:BNS) Price Target Cut to C$72.00 by Analysts at Royal Bank of Canada

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price lowered by Royal Bank of Canada from C$73.00 to C$72.00 in a report released on Wednesday morning, BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the bank’s stock.

Several other research firms have also commented on BNS. National Bankshares decreased their price objective on shares of Bank of Nova Scotia from C$69.00 to C$66.00 and set a sector perform rating for the company in a research note on Thursday, May 25th. Scotiabank increased their price objective on shares of Bank of Nova Scotia from C$67.00 to C$69.50 in a research note on Monday, July 24th. Fundamental Research set a C$77.55 price objective on shares of Bank of Nova Scotia and gave the company a buy rating in a research note on Tuesday, June 6th. Cormark decreased their price target on shares of Bank of Nova Scotia from C$70.00 to C$69.00 in a research note on Thursday, May 25th. Finally, Barclays raised their price target on shares of Bank of Nova Scotia from C$63.00 to C$65.00 and gave the stock an underweight rating in a research note on Monday, August 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of C$69.33.

Bank of Nova Scotia Stock Performance

TSE:BNS opened at C$64.48 on Wednesday. The firm has a market cap of C$77.38 billion, a price-to-earnings ratio of 9.54, a price-to-earnings-growth ratio of 13.86 and a beta of 0.93. Bank of Nova Scotia has a 52 week low of C$61.46 and a 52 week high of C$74.78. The firm has a 50-day moving average price of C$64.53 and a two-hundred day moving average price of C$66.54.

Bank of Nova Scotia Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Tuesday, October 3rd will be paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 6.58%. Bank of Nova Scotia’s dividend payout ratio is 62.72%.

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 in four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.