Bank of Nova Scotia (TSE:BNS) Stock Price Passes Above 200-Day Moving Average – Here’s Why

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$69.94 and traded as high as C$77.63. Bank of Nova Scotia shares last traded at C$77.19, with a volume of 4,323,694 shares trading hands.

Analyst Upgrades and Downgrades

BNS has been the topic of several recent research reports. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$71.00 to C$84.00 in a report on Tuesday, November 19th. BMO Capital Markets upped their price target on Bank of Nova Scotia from C$72.00 to C$84.00 in a research note on Monday, November 18th. Barclays raised shares of Bank of Nova Scotia from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 21st. Cibc World Mkts raised Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. Finally, Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating and upped their price objective for the stock from C$73.00 to C$90.00 in a research report on Tuesday, November 19th. Seven investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$76.73.

Bank of Nova Scotia Trading Down 0.3 %

The stock has a market cap of C$95.72 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. The business has a 50 day simple moving average of C$76.46 and a two-hundred day simple moving average of C$69.94.

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 given a dividend of $1.06 per share. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $4.24 annualized dividend and a dividend yield of 5.49%. 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.