Bank of Nova Scotia (TSE:BNS) Downgraded to Hold Rating by Canaccord Genuity Group

Canaccord Genuity Group lowered shares of Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) from a buy rating to a hold rating in a research report report published on Monday morning,BayStreet.CA reports. They currently have C$110.00 price target on the bank’s stock, down from their prior price target of C$118.00.

Other analysts also recently issued research reports about the company. BMO Capital Markets raised their price objective on Bank of Nova Scotia from C$98.00 to C$101.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 25th. Raymond James Financial lifted their target price on Bank of Nova Scotia from C$114.00 to C$117.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Barclays boosted their target price on Bank of Nova Scotia from C$106.00 to C$108.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 25th. UBS Group increased their price target on Bank of Nova Scotia from C$118.00 to C$120.00 in a report on Wednesday, February 25th. Finally, National Bank Financial cut their price objective on Bank of Nova Scotia from C$102.00 to C$100.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$106.75.

Bank of Nova Scotia Stock Performance

Shares of TSE BNS opened at C$96.23 on Monday. Bank of Nova Scotia has a 52-week low of C$62.57 and a 52-week high of C$106.39. The stock has a market cap of C$118.61 billion, a P/E ratio of 14.28, a P/E/G ratio of 1.33 and a beta of 1.16. The firm has a 50 day moving average price of C$102.38 and a 200 day moving average price of C$95.97.

Insiders Place Their Bets

In related news, insider Julie Walsh sold 3,716 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of C$100.62, for a total value of C$373,903.92. Following the completion of the transaction, the insider directly owned 1,430 shares of the company’s stock, valued at approximately C$143,886.60. This represents a 72.21% decrease in their position. Insiders own 0.03% of the company’s stock.

Bank of Nova Scotia Company Profile

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.