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

Posted by: Masoud Bidgoli Posted date: March 08, 2013 In: Analyst Articles - US, Investing

TD Securities lowered shares of Bank of Nova Scotia (NYSE: BNS) from an action list buy rating to a buy rating in a report released on Wednesday. TD Securities currently has $69.00 target price on the stock, up from their previous target price of $67.00.

Shares of Bank of Nova Scotia traded down 0.51% during mid-day trading on Wednesday, hitting $58.72. Bank of Nova Scotia has a one year low of $48.45 and a one year high of $60.23. The stock’s 50-day moving average is currently $58.80. The company has a market cap of $72.082 billion and a P/E ratio of 11.00.

The company also recently announced a quarterly dividend, which is scheduled for Friday, April 26th. Investors of record on Tuesday, April 2nd will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Thursday, March 28th.

A number of other analysts have also recently weighed in on BNS. Analysts at Canaccord Genuity raised their price target on shares of Bank of Nova Scotia from $67.00 to $69.00 in a research note to investors on Wednesday. They now have a buy rating on the stock. Separately, analysts at Scotiabank raised their price target on shares of Bank of Nova Scotia from $65.00 to $70.00 in a research note to investors on Wednesday. They now have a sector perform rating on the stock. Finally, analysts at Barclays Capital upgraded shares of Bank of Nova Scotia from an equal weight rating to an overweight rating in a research note to investors on Wednesday, February 20th. They now have a $61.00 price target on the stock, up previously from $58.00.

Thirteen research analysts have rated the stock with a buy rating, two have given an overweight rating, and five have given a hold rating to the stock. The company has a consensus rating of overweight and a consensus target price of $63.76.

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