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

Shares of The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$97.03 and traded as high as C$97.77. Bank of Nova Scotia shares last traded at C$97.40, with a volume of 9,619,033 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BNS shares. UBS Group upped their price target on shares of Bank of Nova Scotia from C$118.00 to C$120.00 in a research note on Wednesday, February 25th. Barclays boosted their price objective on shares of Bank of Nova Scotia from C$106.00 to C$108.00 and gave the company an “equal weight” rating in a report on Wednesday, February 25th. Canadian Imperial Bank of Commerce lifted their price target on Bank of Nova Scotia from C$108.00 to C$109.00 in a research report on Thursday, March 5th. Canaccord Genuity Group downgraded Bank of Nova Scotia from a “buy” rating to a “hold” rating and dropped their price target for the company from C$118.00 to C$110.00 in a research note on Monday, March 9th. Finally, Desjardins raised their price objective on Bank of Nova Scotia from C$106.00 to C$107.00 and gave the stock a “hold” rating in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$106.08.

Bank of Nova Scotia Stock Performance

The firm has a market cap of C$120.04 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 1.33 and a beta of 1.16. The stock has a 50 day simple moving average of C$100.40 and a two-hundred day simple moving average of C$97.03.

Bank of Nova Scotia Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, April 28th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 4.5%. The ex-dividend date is Tuesday, April 7th. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 64.69%.

Bank of Nova Scotia Company Profile

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.