Royal Bank of Canada Cuts Bank of Nova Scotia (TSE:BNS) Price Target to C$80.00

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price target decreased by Royal Bank of Canada from C$81.00 to C$80.00 in a research report released on Monday morning,BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the bank’s stock.

A number of other equities research analysts have also recently weighed in on BNS. CIBC raised their price target on Bank of Nova Scotia from C$75.00 to C$77.00 in a report on Thursday, May 22nd. UBS Group reduced their price target on Bank of Nova Scotia from C$85.00 to C$78.00 in a research report on Thursday, May 22nd. TD Securities raised their price target on Bank of Nova Scotia from C$77.00 to C$79.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. National Bankshares raised their price target on Bank of Nova Scotia from C$71.00 to C$72.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 28th. Finally, 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. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$77.00.

Bank of Nova Scotia Trading Down 0.6%

Shares of BNS stock opened at C$73.57 on Monday. The stock has a 50 day moving average of C$69.41 and a two-hundred day moving average of C$72.14. Bank of Nova Scotia has a 12 month low of C$60.68 and a 12 month high of C$80.14. The company has a market capitalization of C$90.16 billion, a P/E ratio of 11.63, a P/E/G ratio of 1.33 and a beta of 0.97.

Bank of Nova Scotia Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Monday, April 28th were given a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 5.76%. The ex-dividend date was Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio is currently 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.