Bank of Nova Scotia (TSE:BNS) Downgraded by Canaccord Genuity Group to “Hold”

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) was downgraded by equities research analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research note issued to investors on Monday,BayStreet.CA reports. They presently have a C$110.00 price objective on the bank’s stock, down from their prior price objective of C$118.00. Canaccord Genuity Group’s price target suggests a potential upside of 14.80% from the company’s current price.

BNS has been the topic of a number of other research reports. Barclays raised their target price 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 report on Wednesday, February 25th. Royal Bank Of Canada raised their price objective on Bank of Nova Scotia from C$97.00 to C$106.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 25th. TD Securities cut Bank of Nova Scotia from a “buy” rating to a “hold” rating and lowered their price objective for the company from C$112.00 to C$111.00 in a research report on Tuesday, March 3rd. Canadian Imperial Bank of Commerce increased their target price on shares of Bank of Nova Scotia from C$108.00 to C$109.00 in a report on Thursday. Finally, Raymond James Financial raised their target price on shares of Bank of Nova Scotia from C$114.00 to C$117.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. One analyst has rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of C$106.75.

Bank of Nova Scotia Stock Performance

Shares of Bank of Nova Scotia stock traded down C$2.21 during midday trading on Monday, hitting C$95.82. The company had a trading volume of 1,629,015 shares, compared to its average volume of 4,293,195. The company has a 50 day moving average of C$102.48 and a 200 day moving average of C$95.85. The stock has a market capitalization of C$118.10 billion, a P/E ratio of 14.22, a P/E/G ratio of 1.33 and a beta of 1.16. Bank of Nova Scotia has a 52-week low of C$62.57 and a 52-week high of C$106.39.

Insider Transactions at Bank of Nova Scotia

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

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.