Barclays Cuts Bank of Nova Scotia (TSE:BNS) Price Target to C$78.00

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price objective trimmed by Barclays from C$81.00 to C$78.00 in a report issued on Monday,BayStreet.CA reports. The firm currently has an equal weight rating on the bank’s stock.

A number of other research firms have also weighed in on BNS. Bank of America lowered shares of Bank of Nova Scotia from a “buy” rating to a “neutral” rating and cut their price objective for the stock from C$82.00 to C$70.00 in a research note on Monday, March 31st. Royal Bank of Canada cut their price objective on shares of Bank of Nova Scotia from C$81.00 to C$80.00 and set a “sector perform” rating on the stock in a research note on Monday. TD Securities increased their price objective on shares of Bank of Nova Scotia from C$77.00 to C$79.00 and gave the stock a “buy” rating in a research note on Wednesday, May 28th. CIBC increased their price objective on shares of Bank of Nova Scotia from C$75.00 to C$77.00 in a research note on Thursday, May 22nd. Finally, National Bankshares increased their price target on shares of Bank of Nova Scotia from C$71.00 to C$72.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 28th. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Bank of Nova Scotia presently has a consensus rating of “Hold” and a consensus price target of C$77.00.

Bank of Nova Scotia Trading Down 0.6%

Shares of 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 firm 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. The firm’s 50 day simple moving average is C$69.41 and its two-hundred day simple moving average is C$72.14.

Bank of Nova Scotia Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Monday, April 28th were given a dividend of $1.06 per share. 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 currently 67.00%.

Bank of Nova Scotia Company Profile

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.