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

Key Points

• Shares of Bank of Nova Scotia crossed above its 200‑day moving average
• Analyst consensus is Hold (one Buy, nine Hold) with an average target of C$106.08, after a mix of recent target increases (Jefferies, CIBC) and cuts/downgrades (Canaccord, TD, National Bank).
• The bank reported C$2.05 EPS for the quarter, has a market cap of C$127.8 billion and a P/E of 15.4, and announced a quarterly dividend of $1.10 (C$4.40 annualized, 4.2% yield) with ex‑dividend date April 7 and payment/record date April 28.

The Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$98.20 and traded as high as C$105.32. Bank of Nova Scotia shares last traded at C$103.78, with a volume of 2,936,354 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BNS shares. National Bank Financial cut their price target on shares of Bank of Nova Scotia from C$102.00 to C$100.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 25th. Jefferies Financial Group upped their price target on shares of Bank of Nova Scotia from C$97.00 to C$104.00 in a report on Wednesday, February 11th. Canadian Imperial Bank of Commerce upped their price target on shares of Bank of Nova Scotia from C$108.00 to C$109.00 in a report on Thursday, March 5th. Canaccord Genuity Group cut shares of Bank of Nova Scotia from a "buy" rating to a "hold" rating and cut their price target for the stock from C$118.00 to C$110.00 in a report on Monday, March 9th. Finally, TD Securities cut shares of Bank of Nova Scotia from a "buy" rating to a "hold" rating and cut their price target for the stock from C$112.00 to C$111.00 in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of C$106.08.

Bank of Nova Scotia Stock Performance

The company's fifty day simple moving average is C$99.78 and its 200-day simple moving average is C$98.20. The company has a market capitalization of C$127.80 billion, a P/E ratio of 15.40, a PEG ratio of 1.33 and a beta of 1.16.

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

Bank of Nova Scotia Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 28th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 4.2%. The ex-dividend date is Tuesday, April 7th. Bank of Nova Scotia's dividend payout ratio 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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