Bank of Nova Scotia (TSE:BNS) Given New C$73.00 Price Target at BMO Capital Markets

Bank of Nova Scotia (TSE:BNS – Get Rating) (NYSE:BNS) had its price target cut by BMO Capital Markets from C$75.00 to C$73.00 in a research report released on Thursday, BayStreet.CA reports.

BNS has been the subject of a number of other research reports. Barclays lowered Bank of Nova Scotia from an equal weight rating to an underweight rating and decreased their target price for the stock from C$78.00 to C$64.00 in a research report on Tuesday, May 9th. Veritas Investment Research reiterated a reduce rating on shares of Bank of Nova Scotia in a research note on Monday, February 27th. CIBC decreased their target price on shares of Bank of Nova Scotia from C$77.00 to C$74.00 in a research note on Tuesday, May 16th. Cormark decreased their target price on shares of Bank of Nova Scotia from C$70.00 to C$69.00 in a research note on Thursday. Finally, National Bankshares reduced their price target on shares of Bank of Nova Scotia from C$69.00 to C$66.00 and set a sector perform rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of C$74.34.

Bank of Nova Scotia Stock Up 1.6 %

Shares of TSE BNS opened at C$66.72 on Thursday. Bank of Nova Scotia has a twelve month low of C$63.19 and a twelve month high of C$86.22. The firm has a market cap of C$79.40 billion, a P/E ratio of 9.22, a PEG ratio of 2.97 and a beta of 0.94. The company has a 50 day moving average of C$67.08 and a 200 day moving average of C$68.39.

Bank of Nova Scotia (TSE:BNS – Get Rating) (NYSE:BNS) last announced its quarterly earnings data on Tuesday, February 28th. The bank reported C$1.85 earnings per share for the quarter, missing analysts’ consensus estimates of C$2.04 by C($0.19). Bank of Nova Scotia had a return on equity of 12.30% and a net margin of 30.69%. The firm had revenue of C$7.98 billion during the quarter, compared to analysts’ expectations of C$8.25 billion. As a group, equities analysts expect that Bank of Nova Scotia will post 7.6121281 earnings per share for the current fiscal year.

Bank of Nova Scotia Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 26th. Investors of record on Tuesday, April 4th were issued 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 dividend 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.