Bank of Nova Scotia (TSE:BNS) Given New C$67.00 Price Target at Canaccord Genuity Group

Bank of Nova Scotia (TSE:BNS – Get Rating) (NYSE:BNS) had its price objective trimmed by Canaccord Genuity Group from C$68.00 to C$67.00 in a research report report published on Thursday morning, BayStreet.CA reports.

Other equities analysts have also recently issued reports about the stock. CIBC cut their target price on shares of Bank of Nova Scotia from C$77.00 to C$74.00 in a report on Tuesday, May 16th. CSFB dropped their price objective on shares of Bank of Nova Scotia from C$72.00 to C$70.00 in a research note on Tuesday, May 16th. BMO Capital Markets reduced their target price on shares of Bank of Nova Scotia from C$85.00 to C$75.00 in a report on Wednesday, March 1st. National Bankshares lowered their price target on Bank of Nova Scotia from C$69.00 to C$66.00 and set a sector perform rating on the stock in a report on Thursday. Finally, Barclays downgraded Bank of Nova Scotia from an equal weight rating to an underweight rating and reduced their price objective for the company from C$78.00 to C$64.00 in a research note on Tuesday, May 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Bank of Nova Scotia currently has an average rating of Hold and an average target price of C$74.34.

Bank of Nova Scotia Price Performance

Shares of TSE:BNS opened at C$66.72 on Thursday. The company’s fifty day moving average price is C$67.08 and its 200 day moving average price is C$68.39. The firm has a market capitalization of C$79.40 billion, a P/E ratio of 9.22, a P/E/G ratio of 2.97 and a beta of 0.94. Bank of Nova Scotia has a 12 month low of C$63.19 and a 12 month high of C$86.22.

Bank of Nova Scotia (TSE:BNS – Get Rating) (NYSE:BNS) last announced its earnings results on Tuesday, February 28th. The bank reported C$1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$2.04 by C($0.19). The firm had revenue of C$7.98 billion during the quarter, compared to analyst estimates of C$8.25 billion. Bank of Nova Scotia had a net margin of 30.69% and a return on equity of 12.30%. On average, sell-side analysts anticipate that Bank of Nova Scotia will post 7.6121281 EPS for the current year.

Bank of Nova Scotia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 26th. Shareholders of record on Tuesday, April 4th were given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 6.18%. The ex-dividend date of this dividend was Monday, April 3rd. Bank of Nova Scotia’s payout ratio is 56.91%.

About Bank of Nova Scotia

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The Bank of Nova Scotia engages in the provision of various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.