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

Key Points

• The Bank of Nova Scotia's share price has crossed above its 200-day moving average, reaching a high of C$90.87, indicating positive momentum for the stock.
• Recent analyst ratings show an upward trend in target prices, with Canaccord Genuity and CIBC raising their target prices to C$90.00 and C$93.00 respectively, while maintaining buy and neutral ratings.
• The bank announced a quarterly dividend of $1.10 per share, reflecting a 4.8% yield and a payout ratio of 81.84%, with the ex-dividend date set for October 7th.

Shares of The Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$75.44 and traded as high as C$90.87. Bank of Nova Scotia shares last traded at C$90.87, with a volume of 6,918,585 shares.

Analyst Ratings Changes

Several brokerages recently commented on BNS. Canaccord Genuity Group lifted their target price on shares of Bank of Nova Scotia from C$87.00 to C$90.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. CIBC lifted their price objective on shares of Bank of Nova Scotia from C$90.00 to C$93.00 and gave the stock a "neutral" rating in a research note on Friday, September 5th. Bank of America lifted their price objective on shares of Bank of Nova Scotia from C$78.00 to C$88.00 in a research note on Wednesday, August 27th. Jefferies Financial Group boosted their target price on shares of Bank of Nova Scotia from C$83.00 to C$86.00 in a research report on Wednesday, August 27th. Finally, Desjardins upped their price objective on shares of Bank of Nova Scotia from C$79.00 to C$85.00 and gave the stock a "hold" rating in a research report on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of C$85.85.

Bank of Nova Scotia Price Performance

The company's fifty day simple moving average is C$83.60 and its two-hundred day simple moving average is C$75.44. The stock has a market cap of C$113.19 billion, a price-to-earnings ratio of 17.37, a P/E/G ratio of 1.33 and a beta of 1.35.

Bank of Nova Scotia Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 29th. Shareholders of record on Wednesday, October 29th will be issued a dividend of $1.10 per share. The ex-dividend date is Tuesday, October 7th. This represents a $4.40 annualized dividend and a yield of 4.8%. Bank of Nova Scotia's dividend payout ratio is presently 81.84%.

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.

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