Bank of Nova Scotia (TSE:BNS) Stock Crosses Above Two Hundred 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 Monday . The stock has a 200-day moving average of C$72.03 and traded as high as C$74.86. Bank of Nova Scotia shares last traded at C$74.46, with a volume of 6,599,488 shares traded.

Analyst Upgrades and Downgrades

BNS has been the topic of a number of research reports. UBS Group lowered their price target on Bank of Nova Scotia from C$85.00 to C$78.00 in a report on Thursday, May 22nd. Bank of America lowered Bank of Nova Scotia from a "buy" rating to a "neutral" rating and dropped their target price for the company from C$82.00 to C$70.00 in a report on Monday, March 31st. CIBC upped their price target on Bank of Nova Scotia from C$75.00 to C$77.00 in a research note on Thursday, May 22nd. National Bankshares lifted their price objective on shares of Bank of Nova Scotia from C$71.00 to C$72.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 28th. Finally, Royal Bank Of Canada cut their price objective 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 research report on Monday, June 9th. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of C$77.00.

Bank of Nova Scotia Stock Performance

The company has a market capitalization of C$91.22 billion, a price-to-earnings ratio of 11.76, a P/E/G ratio of 1.33 and a beta of 0.97. The stock's 50-day moving average price is C$70.60 and its 200-day moving average price is C$71.97.

Bank of Nova Scotia Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Monday, April 28th were given a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date of this dividend was Tuesday, April 1st. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 67.00%.

About Bank of Nova Scotia

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.