Bank of Nova Scotia (TSE:BNS) Stock Rating Lowered by TD Securities

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) was downgraded by analysts at TD Securities from a “buy” rating to a “hold” rating in a report released on Tuesday, Marketbeat reports. They currently have a C$111.00 price target on the bank’s stock, down from their prior price target of C$112.00. TD Securities’ price objective indicates a potential upside of 9.33% from the company’s previous close.

BNS has been the topic of a number of other reports. Royal Bank Of Canada increased their price objective on shares of Bank of Nova Scotia from C$97.00 to C$106.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 25th. Canadian Imperial Bank of Commerce upped their price objective on shares of Bank of Nova Scotia from C$103.00 to C$108.00 and gave the company a “neutral” rating in a report on Friday, February 13th. BMO Capital Markets lifted their price target on Bank of Nova Scotia from C$98.00 to C$101.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 25th. Jefferies Financial Group upped their target price on Bank of Nova Scotia from C$97.00 to C$104.00 in a research report on Wednesday, February 11th. Finally, Barclays increased their price objective on shares of Bank of Nova Scotia from C$106.00 to C$108.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 25th. Two investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$107.33.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at C$101.53 on Tuesday. Bank of Nova Scotia has a 52-week low of C$62.57 and a 52-week high of C$106.39. The firm has a market capitalization of C$125.52 billion, a P/E ratio of 17.91, a P/E/G ratio of 1.33 and a beta of 1.33. The stock has a 50 day moving average price of C$102.58 and a 200 day moving average price of C$95.44.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its earnings results on Tuesday, December 2nd. The bank reported C$1.93 earnings per share (EPS) for the quarter. The firm had revenue of C$9.77 billion during the quarter. Bank of Nova Scotia had a net margin of 16.48% and a return on equity of 10.42%. As a group, sell-side analysts forecast that Bank of Nova Scotia will post 7.1286267 EPS for the current year.

Insiders Place Their Bets

In other Bank of Nova Scotia news, insider Julie Walsh sold 3,716 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of C$100.62, for a total value of C$373,903.92. Following the completion of the sale, the insider directly owned 1,430 shares of the company’s stock, valued at C$143,886.60. This trade represents a 72.21% decrease in their position. Company insiders own 0.03% of the company’s stock.

Bank of Nova Scotia Company Profile

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It offers a range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. The bank’s international operations span numerous countries and are more concentrated in Central and South America.