Bank of Nova Scotia (TSE:BNS) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Key Points

• The stock crossed above its 200-day moving average
• Analysts have a consensus "Hold" rating with an average target of C$106.08; several firms raised targets (UBS to C$120, Barclays to C$108) while RBC cut its objective to C$98.
• Scotiabank announced a quarterly dividend of C$1.10 (annualized C$4.40), implying a 4.3% yield, with an ex‑dividend date of April 7 and payment on April 28.

The Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS's share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$97.63 and traded as high as C$101.69. Bank of Nova Scotia shares last traded at C$101.67, with a volume of 3,339,333 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Desjardins lifted their target price on shares of Bank of Nova Scotia from C$106.00 to C$107.00 and gave the company a "hold" rating in a report on Wednesday, February 25th. Barclays increased their price target on shares of Bank of Nova Scotia from C$106.00 to C$108.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 25th. Jefferies Financial Group raised their price target on shares of Bank of Nova Scotia from C$97.00 to C$104.00 in a research report on Wednesday, February 11th. Royal Bank Of Canada cut their price objective on shares of 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. Finally, UBS Group upped their price objective on shares of Bank of Nova Scotia from C$118.00 to C$120.00 in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of C$106.08.

Bank of Nova Scotia Trading Up 0.8%

The company has a market capitalization of C$125.20 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 1.33 and a beta of 1.16. The company has a fifty day moving average of C$99.79 and a 200-day moving average of C$97.63.

Bank of Nova Scotia Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, April 28th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Tuesday, April 7th. Bank of Nova Scotia's dividend payout ratio is currently 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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