Jefferies Financial Group Cuts Bank of Nova Scotia (TSE:BNS) Price Target to C$70.00

Bank of Nova Scotia (TSE:BNS - Free Report) NYSE: BNS had its price objective reduced by Jefferies Financial Group from C$76.00 to C$70.00 in a research report sent to investors on Monday morning,BayStreet.CA reports.

BNS has been the subject of several other research reports. Cibc World Mkts cut Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. CIBC cut their price target on shares of Bank of Nova Scotia from C$81.00 to C$75.00 in a report on Wednesday, March 5th. Bank of America lowered shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating and lowered their target price for the stock from C$82.00 to C$70.00 in a research report on Monday, March 31st. National Bankshares reduced their price target on shares of Bank of Nova Scotia from C$78.00 to C$71.00 and set a "sector perform" rating for the company in a research report on Monday, April 7th. Finally, Royal Bank of Canada lowered their price target on Bank of Nova Scotia from C$83.00 to C$81.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of C$75.45.

Bank of Nova Scotia Stock Performance

TSE:BNS traded up C$0.34 during mid-day trading on Monday, reaching C$67.65. The stock had a trading volume of 5,837,579 shares, compared to its average volume of 5,275,261. The business has a 50 day simple moving average of C$68.21 and a 200 day simple moving average of C$72.73. Bank of Nova Scotia has a twelve month low of C$60.68 and a twelve month high of C$80.14. The firm has a market capitalization of C$82.90 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 1.33 and a beta of 0.97.

Bank of Nova Scotia Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Monday, April 28th will be issued a $1.06 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $4.24 annualized dividend and a yield of 6.27%. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 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.