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

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$70.88 and traded as high as C$74.75. Bank of Nova Scotia shares last traded at C$73.57, with a volume of 4,470,534 shares trading hands.

Analysts Set New Price Targets

BNS has been the subject of a number of recent research reports. Bank of America upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating and upped their price objective for the stock from C$73.00 to C$90.00 in a report on Tuesday, November 19th. Cibc World Mkts raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. Barclays upgraded Bank of Nova Scotia from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 21st. Royal Bank of Canada increased their price objective on Bank of Nova Scotia from C$74.00 to C$83.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 8th. Finally, Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating and upped their price target for the stock from C$71.00 to C$84.00 in a report on Tuesday, November 19th. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$77.92.

Bank of Nova Scotia Price Performance

The stock’s 50 day simple moving average is C$77.01 and its two-hundred day simple moving average is C$70.88. The stock has a market capitalization of C$91.23 billion, a PE ratio of 12.88, a PEG ratio of 1.33 and a beta of 0.97.

Bank of Nova Scotia Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th will be issued a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a yield of 5.76%. The ex-dividend date of this dividend is Tuesday, January 7th. Bank of Nova Scotia’s dividend payout ratio (DPR) 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.