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

Shares of The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$69.36 and traded as high as C$77.14. Bank of Nova Scotia shares last traded at C$77.08, with a volume of 5,274,005 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently commented on BNS shares. Jefferies Financial Group lifted their price target on shares of Bank of Nova Scotia from C$65.00 to C$69.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Royal Bank of Canada upped their target price on Bank of Nova Scotia from C$65.00 to C$74.00 in a report on Wednesday, December 4th. CIBC raised their price target on Bank of Nova Scotia from C$82.00 to C$84.00 in a report on Tuesday, November 26th. National Bankshares upped their price objective on Bank of Nova Scotia from C$66.00 to C$78.00 in a research note on Wednesday, November 20th. Finally, Bank of America upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating and raised their target price for the company from C$73.00 to C$90.00 in a research note on Tuesday, November 19th. 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$76.73.

Bank of Nova Scotia Stock Performance

The stock has a 50 day moving average price of C$75.98 and a 200 day moving average price of C$69.50. The company has a market cap of C$95.52 billion, a P/E ratio of 13.49, a P/E/G ratio of 1.33 and a beta of 0.97.

Bank of Nova Scotia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th will be given a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 5.50%. Bank of Nova Scotia’s dividend payout ratio (DPR) is 74.26%.

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.