Bank of Nova Scotia (TSE:BNS) Shares Cross Above 200-Day Moving Average - Here's What Happened

Key Points

• Shares of Bank of Nova Scotia crossed above its 200‑day moving average
• Analysts have a consensus "Hold" rating with an average price target of C$106.08 after mixed revisions (one Buy, nine Holds) and target changes ranging roughly C$98–C$120.
• The bank pays a quarterly dividend of C$1.10 (C$4.40 annualized), implying a 4.2% yield and a dividend payout ratio around 64.7%.

Shares of The Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$98.74 and traded as high as C$105.13. Bank of Nova Scotia shares last traded at C$103.62, with a volume of 3,648,888 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on BNS shares. BMO Capital Markets upped their price objective on shares of Bank of Nova Scotia from C$98.00 to C$101.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 25th. TD Securities lowered Bank of Nova Scotia from a "buy" rating to a "hold" rating and cut their price target for the company from C$112.00 to C$111.00 in a research note on Tuesday, March 3rd. Royal Bank Of Canada reduced their price target on Bank of Nova Scotia from C$106.00 to C$98.00 and set a "sector perform" rating for the company in a report on Wednesday, March 25th. Barclays raised their price objective on 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. Finally, UBS Group boosted their price objective on Bank of Nova Scotia from C$118.00 to C$120.00 in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of C$106.08.

Bank of Nova Scotia Trading Down 1.2%

The stock has a market cap of C$127.60 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 1.33 and a beta of 1.16. The firm's 50-day moving average is C$99.77 and its two-hundred day moving average is C$98.74.

Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS last posted its quarterly earnings data on Tuesday, February 24th. The bank reported C$2.05 EPS for the quarter. The company had revenue of C$10.08 billion during the quarter. Bank of Nova Scotia had a return on equity of 10.41% and a net margin of 14.45%. On average, analysts predict that The Bank of Nova Scotia will post 7.1286267 earnings per share for the current year.

Bank of Nova Scotia Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 28th were issued a $1.10 dividend. The ex-dividend date was Tuesday, April 7th. This represents a $4.40 dividend on an annualized basis and a yield of 4.2%. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 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.

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