Bank of Nova Scotia (TSE:BNS) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) shares passed 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 traded.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Cibc World Mkts raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. Bank of America upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating and increased their target price for the stock from C$73.00 to C$90.00 in a research report on Tuesday, November 19th. CIBC lifted their price target on Bank of Nova Scotia from C$82.00 to C$84.00 in a research report on Tuesday, November 26th. Royal Bank of Canada increased their price objective on Bank of Nova Scotia from C$74.00 to C$83.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 8th. Finally, BMO Capital Markets lifted their target price on Bank of Nova Scotia from C$72.00 to C$84.00 in a report on Monday, November 18th. Seven 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$77.92.

Bank of Nova Scotia Stock Down 1.2 %

The company’s 50-day moving average is C$77.01 and its two-hundred day moving average is C$70.88. The company has a market capitalization of C$91.23 billion, a P/E ratio of 12.88, a PEG ratio of 1.33 and a beta of 0.97.

Bank of Nova Scotia Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th will be issued a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 5.76%. The ex-dividend date of this dividend is Tuesday, January 7th. 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.