Bank of Nova Scotia (TSE:BNS) Stock Crosses Above 200-Day Moving Average – Time to Sell?

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BNS. UBS Group raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Bank of America upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from C$73.00 to C$90.00 in a report on Tuesday, November 19th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$71.00 to C$84.00 in a research note on Tuesday, November 19th. TD Securities decreased their target price on Bank of Nova Scotia from C$82.00 to C$81.00 and set a “buy” rating on the stock in a research report on Wednesday, December 4th. Finally, Barclays upgraded 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, five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Bank of Nova Scotia presently has a consensus rating of “Moderate Buy” and a consensus target price of C$77.92.

Bank of Nova Scotia Stock Performance

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

Bank of Nova Scotia Dividend Announcement

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