Bank of Nova Scotia (TSE:BNS) Lowered to “Hold” Rating by Cibc World Mkts

Cibc World Mkts cut shares of Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from C$73.00 to C$90.00 in a research note on Tuesday, November 19th. UBS Group upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. TD Securities cut their price objective on shares of Bank of Nova Scotia from C$82.00 to C$81.00 and set a “buy” rating on the stock in a research report on Wednesday, December 4th. BMO Capital Markets lifted their price target on shares of Bank of Nova Scotia from C$72.00 to C$84.00 in a research note on Monday, November 18th. Finally, National Bankshares upped their price target on shares of Bank of Nova Scotia from C$66.00 to C$78.00 in a report on Wednesday, November 20th. Nine analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Bank of Nova Scotia currently has a consensus rating of “Hold” and a consensus target price of C$78.33.

Bank of Nova Scotia Stock Down 0.0 %

BNS stock opened at C$72.40 on Tuesday. Bank of Nova Scotia has a 52 week low of C$60.68 and a 52 week high of C$80.14. The firm has a market capitalization of C$88.72 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. The company has a fifty day simple moving average of C$74.97 and a two-hundred day simple moving average of C$72.59.

Bank of Nova Scotia Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th were given a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 5.86%. The ex-dividend date of this dividend was Tuesday, January 7th. 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.