Royal Bank of Canada Has Lowered Expectations for Bank of Nova Scotia (TSE:BNS) Stock Price

Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS had its target price cut by equities researchers at Royal Bank of Canada from C$83.00 to C$81.00 in a report released on Wednesday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the bank's stock. Royal Bank of Canada's price objective suggests a potential upside of 12.78% from the company's previous close.

Several other equities analysts also recently commented on BNS. Barclays raised shares of Bank of Nova Scotia from a "strong sell" rating to a "hold" rating in a research note on Thursday, November 21st. UBS Group upgraded shares of 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 target 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 report on Wednesday, December 4th. National Bankshares increased 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. Finally, Jefferies Financial Group cut their price target on shares of Bank of Nova Scotia from C$81.00 to C$77.00 in a report on Tuesday, February 18th. Eight research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of C$79.09.

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Bank of Nova Scotia Price Performance

Bank of Nova Scotia stock traded up C$0.10 during mid-day trading on Wednesday, hitting C$71.82. The company's stock had a trading volume of 5,933,374 shares, compared to its average volume of 4,479,554. The stock has a market cap of C$88.01 billion, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. The business has a 50 day moving average price of C$74.15 and a 200-day moving average price of C$73.14. Bank of Nova Scotia has a 12 month low of C$60.68 and a 12 month high of C$80.14.

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.