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 target price cut by Royal Bank of Canada from C$81.00 to C$80.00 in a research note released on Monday morning,BayStreet.CA reports. They currently have a sector perform rating on the bank’s stock.

Several other research firms also recently commented on BNS. CIBC upped their target price on Bank of Nova Scotia from C$75.00 to C$77.00 in a research report on Thursday, May 22nd. UBS Group cut their price target on Bank of Nova Scotia from C$85.00 to C$78.00 in a research note on Thursday, May 22nd. National Bankshares boosted their price target on Bank of Nova Scotia from C$71.00 to C$72.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 28th. Bank of America cut Bank of Nova Scotia from a “buy” rating to a “neutral” rating and cut their price target for the company from C$82.00 to C$70.00 in a research note on Monday, March 31st. Finally, Jefferies Financial Group boosted their price target on Bank of Nova Scotia from C$70.00 to C$75.00 and gave the company a “hold” rating in a research note on Wednesday, May 28th. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$77.00.

Bank of Nova Scotia Trading Down 0.6%

Bank of Nova Scotia stock opened at C$73.57 on Monday. Bank of Nova Scotia has a 12 month low of C$60.68 and a 12 month high of C$80.14. The stock’s 50 day moving average is C$69.41 and its 200-day moving average is C$72.14. The company has a market capitalization of C$90.16 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 1.33 and a beta of 0.97.

Bank of Nova Scotia Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Monday, April 28th were issued a $1.06 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $4.24 dividend on an annualized basis and a yield of 5.76%. 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.