Bank of Nova Scotia (TSE:BNS) Shares Cross Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Bank of Nova Scotia shares recently crossed above their two hundred day moving average, reaching a high of C$90.10 and last trading at C$89.87 with significant volume of 2,671,424 shares.
• Several analysts have increased their price targets for Bank of Nova Scotia, with the highest now at C$93.00, indicating a generally positive outlook for the stock.
• The bank announced a quarterly dividend of $1.10, payable on October 29th, representing an annual yield of 4.9% based on the current trading price.

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 Monday . The stock has a two hundred day moving average of C$77.31 and traded as high as C$90.10. Bank of Nova Scotia shares last traded at C$89.87, with a volume of 2,671,424 shares.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BNS shares. Canaccord Genuity Group increased their price objective on shares of Bank of Nova Scotia from C$87.00 to C$90.00 and gave the company a "buy" rating in a report on Wednesday, August 27th. Bank of America increased their price objective on shares of Bank of Nova Scotia from C$78.00 to C$88.00 in a report on Wednesday, August 27th. CIBC increased their price objective on shares of Bank of Nova Scotia from C$90.00 to C$93.00 and gave the company a "neutral" rating in a report on Friday, September 5th. Royal Bank Of Canada increased their price objective on shares of Bank of Nova Scotia from C$80.00 to C$86.00 and gave the company a "sector perform" rating in a report on Wednesday, August 27th. Finally, Barclays increased their price objective on shares of Bank of Nova Scotia from C$81.00 to C$86.00 in a report on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of C$85.85.

Bank of Nova Scotia Stock Up 0.6%

The company's fifty day simple moving average is C$86.67 and its two-hundred day simple moving average is C$77.31. The company has a market capitalization of C$111.94 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 1.33 and a beta of 1.30.

Bank of Nova Scotia Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 29th. Shareholders of record on Wednesday, October 29th will be issued a $1.10 dividend. The ex-dividend date is Tuesday, October 7th. This represents a $4.40 annualized dividend and a yield of 4.9%. Bank of Nova Scotia's dividend payout ratio (DPR) is 81.84%.

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.

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