Bank of Nova Scotia (TSE:BNS) Stock Price Crosses Above 200-Day Moving Average of $62.75

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$62.75 and traded as high as C$64.80. Bank of Nova Scotia shares last traded at C$64.22, with a volume of 2,766,852 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BNS. Canaccord Genuity Group increased their price target on Bank of Nova Scotia from C$65.00 to C$67.50 and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Desjardins lifted their price objective on shares of Bank of Nova Scotia from C$64.00 to C$68.00 and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Royal Bank of Canada boosted their price target on shares of Bank of Nova Scotia from C$62.00 to C$64.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 28th. National Bankshares upped their target price on shares of Bank of Nova Scotia from C$66.00 to C$67.00 and gave the company a “sector perform” rating in a report on Wednesday, February 28th. Finally, TD Securities increased their price target on shares of Bank of Nova Scotia from C$64.00 to C$65.00 and gave the stock a “hold” rating in a report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Bank of Nova Scotia currently has an average rating of “Hold” and a consensus price target of C$66.97.

Bank of Nova Scotia Price Performance

The stock’s 50-day moving average is C$66.37 and its 200-day moving average is C$62.75. The stock has a market cap of C$78.35 billion, a price-to-earnings ratio of 10.51, a price-to-earnings-growth ratio of 1.33 and a beta of 0.96.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its earnings results on Tuesday, February 27th. The bank reported C$1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.61 by C$0.08. Bank of Nova Scotia had a net margin of 26.75% and a return on equity of 10.20%. The firm had revenue of C$8.43 billion for the quarter, compared to analyst estimates of C$8.12 billion. Analysts predict that The Bank of Nova Scotia will post 6.5752475 EPS for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Tuesday, April 2nd will be given a dividend of $1.06 per share. The ex-dividend date is Monday, April 1st. This represents a $4.24 dividend on an annualized basis and a yield of 6.60%. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 69.39%.

About Bank of Nova Scotia

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.