Why Bank of Nova Scotia (BNS) Stock Is Declining Today

NEW YORK (TheStreet) -- Bank of Nova Scotia (BNS) shares are down -0.23% to $65.97 on Wednesday after being downgraded to "neutral" from "outperform" by analysts at Credit Suisse (CS) .

Separately, analyst at TD Securities downgraded the stock to "buy" from its "action buy list".

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The downgrades were issued despite the bank's second quarter earnings beat.

Yesterday the company reported earnings of $1.70 per diluted share, 41 cents higher than analysts were expecting, on revenue of $6.49 billion that was ahead of analysts $5.92 billion estimates.

BNS Chart BNS data by YCharts

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