Bank of Nova Scotia (TSE:BNS) Stock Price Passes Above 200 Day Moving Average of $62.93

Shares of The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$62.93 and traded as high as C$63.57. Bank of Nova Scotia shares last traded at C$63.15, with a volume of 7,662,848 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BNS shares. Canaccord Genuity Group upped their price objective on Bank of Nova Scotia from C$65.00 to C$67.50 and gave the stock a “hold” rating in a research report on Wednesday, February 28th. TD Securities upped their price objective on Bank of Nova Scotia from C$64.00 to C$65.00 and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Jefferies Financial Group increased their price target on Bank of Nova Scotia from C$63.00 to C$66.00 and gave the company a “hold” rating in a research report on Wednesday, February 28th. CIBC reduced their price target on Bank of Nova Scotia from C$66.00 to C$64.00 and set a “neutral” rating for the company in a research report on Friday, March 8th. Finally, Desjardins increased their price target on Bank of Nova Scotia from C$64.00 to C$68.00 and gave the company a “hold” rating in a research report on Wednesday, February 28th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Bank of Nova Scotia currently has an average rating of “Hold” and an average price target of C$66.97.

Bank of Nova Scotia Stock Down 1.5 %

The company has a market cap of C$77.04 billion, a P/E ratio of 10.34, a price-to-earnings-growth ratio of 1.33 and a beta of 0.96. The stock has a 50 day moving average price of C$66.49 and a two-hundred day moving average price of C$62.93.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its earnings results on Tuesday, February 27th. The bank reported C$1.69 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.61 by C$0.08. The company had revenue of C$8.43 billion for the quarter, compared to analyst estimates of C$8.12 billion. Bank of Nova Scotia had a return on equity of 10.20% and a net margin of 26.75%. Equities analysts anticipate that The Bank of Nova Scotia will post 6.5752475 EPS for the current year.

Bank of Nova Scotia Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Tuesday, April 2nd will be paid a dividend of $1.06 per share. The ex-dividend date of this dividend is Monday, April 1st. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.71%. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 69.39%.

Bank of Nova Scotia Company Profile

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.