Bank of Nova Scotia (TSE:BNS) Lowered to Hold Rating by TD Securities

TD Securities downgraded shares of Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) from a buy rating to a hold rating in a research note published on Tuesday morning,BayStreet.CA reports. They currently have C$111.00 price objective on the bank’s stock, down from their prior price objective of C$112.00.

A number of other brokerages have also recently weighed in on BNS. National Bank Financial decreased their price target on shares of Bank of Nova Scotia from C$102.00 to C$100.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 25th. Jefferies Financial Group upped their target price on Bank of Nova Scotia from C$97.00 to C$104.00 in a research report on Wednesday, February 11th. Barclays upped their target price on Bank of Nova Scotia from C$106.00 to C$108.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 25th. Canadian Imperial Bank of Commerce raised their target price on Bank of Nova Scotia from C$103.00 to C$108.00 and gave the company a “neutral” rating in a report on Friday, February 13th. Finally, BMO Capital Markets boosted their price target on Bank of Nova Scotia from C$98.00 to C$101.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 25th. Two analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$107.33.

Bank of Nova Scotia Stock Performance

BNS opened at C$100.45 on Tuesday. Bank of Nova Scotia has a 1 year low of C$62.57 and a 1 year high of C$106.39. The firm has a 50 day moving average price of C$102.57 and a 200 day moving average price of C$95.40. The company has a market cap of C$124.19 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 1.33 and a beta of 1.33.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings data on Tuesday, December 2nd. The bank reported C$1.93 earnings per share (EPS) for the quarter. Bank of Nova Scotia had a net margin of 14.45% and a return on equity of 10.49%. The company had revenue of C$9.77 billion during the quarter. On average, sell-side analysts predict that Bank of Nova Scotia will post 7.1286267 earnings per share for the current year.

Insider Transactions at Bank of Nova Scotia

In other Bank of Nova Scotia news, insider Julie Walsh sold 3,716 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of C$100.62, for a total transaction of C$373,903.92. Following the transaction, the insider directly owned 1,430 shares in the company, valued at C$143,886.60. This represents a 72.21% decrease in their position. 0.03% of the stock is owned by corporate insiders.

About Bank of Nova Scotia

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It offers a range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. The bank’s international operations span numerous countries and are more concentrated in Central and South America.