Bank of Nova Scotia (BNS) is Downgraded by Macquarie to Neutral

Bank of Nova Scotia (BNS) was Downgraded by Macquarie to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Macquarie advised their investors in a research report released on Jun 9, 2016.

On the company’s financial health, Bank of Nova Scotia reported $1.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on May 31, 2016. Analyst had a consensus of $1.42.Analysts expectations of $ 6513.28.During the same quarter in the previous year, the company posted $1.42 EPS.

Bank of Nova Scotia opened for trading at $51.59 and hit $52.66 on the upside on Tuesday, eventually ending the session at $52.54, with a gain of 2.16% or 1.11 points. The heightened volatility saw the trading volume jump to 16,84,772 shares. Company has a market cap of $63,192 M.

Investors should note that on May 31, 2016, Bank of Nova Scotia announced a cash dividend of $0.7200. The company’s management has announced Jun 30, 2016 as the ex-dividend date and fixed the record date on Jul 5, 2016. The payable date has been fixed on Jul 27, 2016.

The Bank of Nova Scotia (the Bank) is a Canada-based diversified financial institution. The Bank offered a range of products and services including retail commercial corporate and investment banking to more than 21 million customers in more than 55 countries around the world. The Bank has four business lines: Canadian Banking International Banking Scotia Capital and Global Wealth Management. The Canadian Banking segment provided a range of banking and investing services to more than 7.7 million customers across Canada through a network of 1190 branches 3869 automated banking machine (ABMs) as well as telephone Internet banking and third-party channels. International Banking includes Scotiabank’s retail and commercial banking operations in more than 55 countries outside Canada. Global Wealth Management (GWM) consists of wealth management insurance and Global Transaction Banking businesses.

Bank of Nova Scotia

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