Bank of Nova Scotia (TSE:BNS) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) crossed 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.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Royal Bank of Canada raised their price target on Bank of Nova Scotia from C$74.00 to C$83.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 8th. TD Securities decreased their target price on Bank of Nova Scotia from C$82.00 to C$81.00 and set a “buy” rating for the company in a research report on Wednesday, December 4th. National Bankshares upped their price target on shares of Bank of Nova Scotia from C$66.00 to C$78.00 in a report on Wednesday, November 20th. 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 report on Tuesday, November 19th. Finally, UBS Group raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Seven investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$77.92.

Bank of Nova Scotia Price Performance

The stock’s 50-day moving average is C$77.00 and its 200 day moving average is C$71.01. The company has a market cap 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 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 $1.06 dividend. The ex-dividend date is Tuesday, January 7th. This represents a $4.24 dividend on an annualized basis and a dividend 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.