Bank of Nova Scotia (TSE:BNS) Given New C$81.00 Price Target at Royal Bank of Canada

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price trimmed by Royal Bank of Canada from C$83.00 to C$81.00 in a research report released on Wednesday,BayStreet.CA reports. The firm currently has a sector perform rating on the bank’s stock.

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group decreased their price objective on Bank of Nova Scotia from C$81.00 to C$77.00 in a research note on Tuesday, February 18th. TD Securities decreased their price objective on Bank of Nova Scotia from C$82.00 to C$81.00 and set a “buy” rating for the company in a research note on Wednesday, December 4th. UBS Group upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. CIBC cut Bank of Nova Scotia from an “outperform” rating to a “neutral” rating and decreased their price target for the company from C$84.00 to C$81.00 in a research note on Tuesday, February 18th. Finally, BMO Capital Markets increased their price target on Bank of Nova Scotia from C$72.00 to C$84.00 in a research note on Monday, November 18th. Nine research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$78.17.

Bank of Nova Scotia Price Performance

Shares of TSE BNS opened at C$72.38 on Wednesday. The stock has a market capitalization of C$88.70 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a 1-year low of C$60.68 and a 1-year high of C$80.14. The business has a fifty day moving average price of C$74.35 and a 200 day moving average price of C$72.87.

Bank of Nova Scotia Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th were paid a $1.06 dividend. This represents a $4.24 annualized dividend and a dividend yield of 5.86%. The ex-dividend date was Tuesday, January 7th. Bank of Nova Scotia’s payout ratio is 67.00%.

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 through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.