Bank of Nova Scotia (TSE:BNS) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-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.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. CIBC increased their price objective on shares of Bank of Nova Scotia from C$82.00 to C$84.00 in a report on Tuesday, November 26th. Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating and increased their price target for the company from C$73.00 to C$90.00 in a research note on Tuesday, November 19th. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$71.00 to C$84.00 in a research note on Tuesday, November 19th. National Bankshares increased their target price on Bank of Nova Scotia from C$66.00 to C$78.00 in a research note on Wednesday, November 20th. Finally, UBS Group upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$76.73.

Bank of Nova Scotia Trading Up 0.1 %

The stock’s 50 day moving average is C$76.52 and its two-hundred day moving average is C$69.99. The stock has a market capitalization of C$95.79 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97.

Bank of Nova Scotia Announces Dividend

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