Royal Bank of Canada Issues Pessimistic Forecast for Bank of Nova Scotia (TSE:BNS) Stock Price

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price decreased by Royal Bank of Canada from C$83.00 to C$81.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the bank’s stock.

BNS has been the topic of several other reports. Cibc World Mkts lowered Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. BMO Capital Markets raised their target price on Bank of Nova Scotia from C$72.00 to C$84.00 in a report on Monday, November 18th. Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating and raised their price objective for the company from C$73.00 to C$90.00 in a report on Tuesday, November 19th. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating and raised their price objective for the company from C$71.00 to C$84.00 in a report on Tuesday, November 19th. Finally, UBS Group raised Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Nine analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$78.17.

Bank of Nova Scotia Stock Up 1.4 %

Bank of Nova Scotia stock opened at C$72.38 on Wednesday. The firm has a market cap of C$88.70 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a 52 week low of C$60.68 and a 52 week high of C$80.14. The business’s 50-day moving average price is C$74.35 and its 200 day moving average price is C$72.87.

Bank of Nova Scotia Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th were given a $1.06 dividend. The ex-dividend date of this dividend was Tuesday, January 7th. This represents a $4.24 annualized dividend and a dividend yield of 5.86%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 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.