Bank of Nova Scotia (TSE:BNS) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$96.49 and traded as high as C$96.89. Bank of Nova Scotia shares last traded at C$95.85, with a volume of 1,906,439 shares.

Wall Street Analysts Forecast Growth

BNS has been the topic of several recent analyst reports. Jefferies Financial Group increased their price objective on shares of Bank of Nova Scotia from C$97.00 to C$104.00 in a report on Wednesday, February 11th. Royal Bank Of Canada upped their price target on shares of Bank of Nova Scotia from C$97.00 to C$106.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 25th. TD Securities lowered shares of Bank of Nova Scotia from a “buy” rating to a “hold” rating and decreased their price target for the company from C$112.00 to C$111.00 in a research note on Tuesday, March 3rd. Canadian Imperial Bank of Commerce lifted their price objective on Bank of Nova Scotia from C$108.00 to C$109.00 in a report on Thursday, March 5th. Finally, Raymond James Financial boosted their price objective on Bank of Nova Scotia from C$114.00 to C$117.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$106.75.

Bank of Nova Scotia Trading Down 0.4%

The business has a fifty day simple moving average of C$101.64 and a two-hundred day simple moving average of C$96.49. The company has a market cap of C$118.13 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 1.33 and a beta of 1.16.

About Bank of Nova Scotia

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It offers a range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. The bank’s international operations span numerous countries and are more concentrated in Central and South America.