Bank of Nova Scotia (TSE:BNS) Shares Pass Above 200-Day Moving Average – Should You Sell?
by Michael Walen · The Markets DailyThe Bank of Nova Scotia (TSE:BNS – Get Free Report) (NYSE:BNS) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$97.03 and traded as high as C$97.77. Bank of Nova Scotia shares last traded at C$97.40, with a volume of 9,619,033 shares traded.
Analyst Ratings Changes
BNS has been the topic of a number of recent research reports. Canadian Imperial Bank of Commerce raised their price objective on Bank of Nova Scotia from C$108.00 to C$109.00 in a research report on Thursday, March 5th. Barclays boosted their target price on shares of Bank of Nova Scotia from C$106.00 to C$108.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 25th. UBS Group raised their price target on shares of Bank of Nova Scotia from C$118.00 to C$120.00 in a report on Wednesday, February 25th. BMO Capital Markets lifted their price objective on shares of Bank of Nova Scotia from C$98.00 to C$101.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 25th. Finally, Jefferies Financial Group boosted their price objective on shares of Bank of Nova Scotia from C$97.00 to C$104.00 in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$106.08.
Get Our Latest Report on Bank of Nova Scotia
Bank of Nova Scotia Stock Performance
The company has a 50-day moving average of C$100.30 and a 200-day moving average of C$97.03. The company has a market capitalization of C$120.34 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 1.33 and a beta of 1.16.
Bank of Nova Scotia Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 28th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, April 7th. Bank of Nova Scotia’s dividend payout ratio is presently 64.69%.
About Bank of Nova Scotia
Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It offers a range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. The bank’s international operations span numerous countries and are more concentrated in Central and South America.