Bank of Nova Scotia (TSE:BNS) Price Target Cut to C$70.00 by Analysts at Jefferies Financial Group

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price target lowered by Jefferies Financial Group from C$76.00 to C$70.00 in a research note published on Monday,BayStreet.CA reports.

Several other research analysts have also commented on BNS. Cibc World Mkts lowered Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Bank of America downgraded Bank of Nova Scotia from a “buy” rating to a “neutral” rating and dropped their target price for the company from C$82.00 to C$70.00 in a research report on Monday, March 31st. Accountability Research set a C$82.00 price objective on shares of Bank of Nova Scotia and gave the company a “buy” rating in a research note on Thursday, January 9th. 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 on the stock in a research note on Wednesday, February 26th. Finally, TD Securities set a C$81.00 price target on shares of Bank of Nova Scotia and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$75.45.

Bank of Nova Scotia Stock Performance

Bank of Nova Scotia stock opened at C$65.66 on Monday. The company has a market capitalization of C$80.46 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. The company’s 50 day simple moving average is C$68.64 and its 200-day simple moving average is C$72.88. Bank of Nova Scotia has a 1 year low of C$60.68 and a 1 year high of C$80.14.

Bank of Nova Scotia Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Monday, April 28th will be given a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a yield of 6.46%. The ex-dividend date of this dividend is Tuesday, April 1st. Bank of Nova Scotia’s payout ratio is currently 67.00%.

Bank of Nova Scotia Company Profile

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.