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

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

A number of other analysts have also recently commented on the company. National Bankshares upped their price objective on Bank of Nova Scotia from C$66.00 to C$78.00 in a research report on Wednesday, November 20th. TD Securities cut their target price on shares of Bank of Nova Scotia from C$82.00 to C$81.00 and set a “buy” rating for the company in a research report on Wednesday, December 4th. Bank of America upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating and increased their price target for the stock from C$73.00 to C$90.00 in a research report on Tuesday, November 19th. Accountability Research set a C$82.00 price target on shares of Bank of Nova Scotia and gave the stock a “buy” rating in a research note on Thursday, January 9th. Finally, 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. Nine research 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$78.33.

Bank of Nova Scotia Stock Performance

BNS opened at C$72.40 on Tuesday. The company’s 50-day simple moving average is C$74.97 and its two-hundred day simple moving average is C$72.59. Bank of Nova Scotia has a 52-week low of C$60.68 and a 52-week high of C$80.14. The stock has a market capitalization of C$88.72 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.33 and a beta of 0.97.

Bank of Nova Scotia Announces Dividend

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