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

Shares of 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$68.76 and traded as high as C$79.04. Bank of Nova Scotia shares last traded at C$78.92, with a volume of 2,665,497 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Cormark dropped their price target on shares of Bank of Nova Scotia from C$68.00 to C$65.00 and set a “market perform” rating on the stock in a research note on Tuesday, August 20th. Royal Bank of Canada increased their price target on Bank of Nova Scotia from C$65.00 to C$74.00 in a report on Wednesday, December 4th. Jefferies Financial Group raised their price objective on Bank of Nova Scotia from C$65.00 to C$69.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. BMO Capital Markets upped their target price on Bank of Nova Scotia from C$72.00 to C$84.00 in a research report on Monday, November 18th. Finally, Barclays raised shares of Bank of Nova Scotia from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 21st. Seven 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$76.73.

Bank of Nova Scotia Price Performance

The business’s fifty day simple moving average is C$75.21 and its 200 day simple moving average is C$68.87. The stock has a market cap of C$97.86 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 1.33 and a beta of 0.97.

Bank of Nova Scotia Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Tuesday, January 7th will be paid a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a yield of 5.37%. 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.