Bank of Nova Scotia (TSE:BNS) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$72.27 and traded as high as C$73.13. Bank of Nova Scotia shares last traded at C$72.63, with a volume of 1,513,285 shares traded.

Analyst Ratings Changes

Several research firms have weighed in on BNS. National Bankshares boosted their price target on Bank of Nova Scotia from C$66.00 to C$78.00 in a research note on Wednesday, November 20th. TD Securities cut their price target on shares of Bank of Nova Scotia from C$82.00 to C$81.00 and set a “buy” rating on the stock in a report on Wednesday, December 4th. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$71.00 to C$84.00 in a research note on Tuesday, November 19th. CIBC increased 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. Finally, Barclays upgraded shares of Bank of Nova Scotia from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 21st. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bank of Nova Scotia has an average rating of “Moderate Buy” and an average price target of C$77.92.

Bank of Nova Scotia Stock Performance

The stock has a market cap of C$88.95 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. The company has a 50 day moving average of C$75.37 and a two-hundred day moving average of C$72.39.

Bank of Nova Scotia Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th were paid a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 5.84%. The ex-dividend date of this dividend was Tuesday, January 7th. Bank of Nova Scotia’s payout ratio is 67.00%.

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.