Bank of Nova Scotia (TSE:BNS) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Accountability Research set a C$82.00 price target on shares of Bank of Nova Scotia and gave the company a “buy” rating in a research note on Thursday, January 9th. Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating and upped their target price for the company from C$73.00 to C$90.00 in a research report on Tuesday, November 19th. 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. BMO Capital Markets increased their price objective on Bank of Nova Scotia from C$72.00 to C$84.00 in a report on Monday, November 18th. Finally, CIBC lifted their target price on Bank of Nova Scotia from C$82.00 to C$84.00 in a report on Tuesday, November 26th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$77.92.

Bank of Nova Scotia Stock Performance

The firm 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. The business’s 50 day moving average price is C$77.01 and its 200 day moving average price is C$70.88.

Bank of Nova Scotia Dividend Announcement

The company also recently disclosed 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 is Tuesday, January 7th. This represents a $4.24 dividend on an annualized basis 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.