Bank of Nova Scotia (TSE:BNS) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Shares of The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$69.94 and traded as high as C$77.63. Bank of Nova Scotia shares last traded at C$77.19, with a volume of 4,323,694 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BNS shares. CIBC raised their price objective on shares of Bank of Nova Scotia from C$82.00 to C$84.00 in a research note on Tuesday, November 26th. TD Securities reduced their price target on shares of Bank of Nova Scotia from C$82.00 to C$81.00 and set a “buy” rating for the company in a report on Wednesday, December 4th. Bank of America upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from C$73.00 to C$90.00 in a report on Tuesday, November 19th. Royal Bank of Canada increased their target price on shares of Bank of Nova Scotia from C$65.00 to C$74.00 in a research note on Wednesday, December 4th. Finally, BMO Capital Markets lifted their target price on Bank of Nova Scotia from C$72.00 to C$84.00 in a research report on Monday, November 18th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$76.73.

Bank of Nova Scotia Trading Up 0.1 %

The firm has a market cap of C$95.79 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. The company’s fifty day moving average price is C$76.52 and its two-hundred day moving average price is C$69.99.

Bank of Nova Scotia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th will be given a $1.06 dividend. The ex-dividend date is Tuesday, January 7th. This represents a $4.24 annualized dividend and a yield of 5.49%. Bank of Nova Scotia’s payout ratio is 74.26%.

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.