Barclays Trims Bank of Nova Scotia (TSE:BNS) Target Price to C$84.00

Bank of Nova Scotia (TSE:BNSGet Rating) (NYSE:BNS) had its price target cut by Barclays from C$96.00 to C$84.00 in a report issued on Wednesday, MarketBeat reports. They currently have an equal weight rating on the bank’s stock.

A number of other analysts also recently issued reports on the company. TD Securities downgraded Bank of Nova Scotia from a buy rating to a hold rating and set a C$100.00 price objective on the stock. in a research note on Thursday, March 10th. Fundamental Research reduced their price objective on Bank of Nova Scotia from C$100.91 to C$97.39 and set a buy rating on the stock in a research note on Monday, March 7th. National Bankshares lifted their price objective on Bank of Nova Scotia from C$86.00 to C$90.00 in a research note on Wednesday, February 23rd. CIBC downgraded Bank of Nova Scotia from an outperform rating to a neutral rating and reduced their price objective for the stock from C$105.00 to C$94.00 in a research note on Monday, April 11th. Finally, Canaccord Genuity Group lifted their price objective on Bank of Nova Scotia from C$98.00 to C$100.00 in a research note on Thursday, February 17th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of C$91.80.

TSE BNS opened at C$81.07 on Wednesday. The stock’s 50 day moving average is C$87.30 and its 200 day moving average is C$87.89. Bank of Nova Scotia has a 12 month low of C$75.84 and a 12 month high of C$95.00. The stock has a market cap of C$97.65 billion and a PE ratio of 10.16.

Bank of Nova Scotia (TSE:BNSGet Rating) (NYSE:BNS) last posted its quarterly earnings results on Tuesday, March 1st. The bank reported C$2.15 EPS for the quarter, topping analysts’ consensus estimates of C$2.07 by C$0.08. The business had revenue of C$8.05 billion during the quarter, compared to analysts’ expectations of C$7.79 billion. As a group, sell-side analysts predict that Bank of Nova Scotia will post 8.7600004 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 27th. Investors of record on Tuesday, April 5th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date was Monday, April 4th. Bank of Nova Scotia’s payout ratio is currently 46.37%.

About Bank of Nova Scotia (Get Rating)

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 in four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.

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Analyst Recommendations for Bank of Nova Scotia (TSE:BNS)

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