Bank of Nova Scotia (TSE:BNS) Shares Cross Above 200-Day Moving Average – What’s Next?

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS)’s stock price 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.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. 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. 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. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating and lifted their target price for the stock from C$71.00 to C$84.00 in a report on Tuesday, November 19th. National Bankshares increased 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. Finally, CIBC raised their price target on shares of Bank of Nova Scotia from C$82.00 to C$84.00 in a research report on Tuesday, November 26th. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Bank of Nova Scotia has an average rating of “Moderate Buy” and an average price target of C$77.92.

Bank of Nova Scotia Stock Down 1.2 %

The business’s 50-day simple moving average is C$77.00 and its two-hundred day simple moving average is C$71.01. The firm has a market cap of C$91.23 billion, a price-to-earnings ratio of 12.88, a P/E/G ratio of 1.33 and a beta of 0.97.

Bank of Nova Scotia Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th will be paid a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 5.76%. The ex-dividend date 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.