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

The Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS's share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$71.75 and traded as high as C$75.47. Bank of Nova Scotia shares last traded at C$75.30, with a volume of 10,606,440 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. CIBC lifted their price target on shares of Bank of Nova Scotia from C$75.00 to C$77.00 in a research note on Thursday, May 22nd. Barclays reduced their target price on Bank of Nova Scotia from C$81.00 to C$78.00 and set an "equal weight" rating on the stock in a report on Monday, June 9th. National Bankshares boosted their price target on Bank of Nova Scotia from C$71.00 to C$72.00 and gave the company a "sector perform" rating in a report on Wednesday, May 28th. Bank of America cut shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating and dropped their target price for the stock from C$82.00 to C$70.00 in a report on Monday, March 31st. Finally, Royal Bank Of Canada decreased their price target on shares of Bank of Nova Scotia from C$81.00 to C$80.00 and set a "sector perform" rating for the company in a report on Monday, June 9th. Nine investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of C$77.31.

Bank of Nova Scotia Price Performance

The firm has a market capitalization of C$91.88 billion, a P/E ratio of 11.85, a PEG ratio of 1.33 and a beta of 0.97. The firm's fifty day moving average price is C$72.11 and its 200-day moving average price is C$71.75.

Bank of Nova Scotia Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 29th. Investors of record on Tuesday, July 29th will be issued a dividend of $1.10 per share. This is a positive change from Bank of Nova Scotia's previous quarterly dividend of $1.06. This represents a $4.40 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date is Wednesday, July 2nd. Bank of Nova Scotia's payout ratio is presently 67.00%.

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.