Bank of Nova Scotia (TSE:BNS) Stock Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• The Bank of Nova Scotia's stock (TSE:BNS) recently crossed above its 200-day moving average at C$73.68, trading at C$88.16 with a significant volume of 3,806,359 shares.
• Several analysts have raised their price targets for the stock, with Jefferies and Royal Bank of Canada both setting targets at C$86.00, while Canaccord Genuity has a target of C$90.00.
• The bank declared a quarterly dividend of $1.10 per share, up from the previous $1.06, representing an annualized dividend yield of 5.0%.

Shares of The Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$73.68 and traded as high as C$88.19. Bank of Nova Scotia shares last traded at C$88.16, with a volume of 3,806,359 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Canaccord Genuity Group raised their target price on shares of Bank of Nova Scotia from C$87.00 to C$90.00 and gave the stock a "buy" rating in a research note on Wednesday, August 27th. TD Securities upped their target price on shares of Bank of Nova Scotia from C$87.00 to C$93.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. National Bankshares boosted their price objective on Bank of Nova Scotia from C$73.00 to C$81.00 in a research report on Wednesday, August 27th. Royal Bank Of Canada boosted their price objective on Bank of Nova Scotia from C$80.00 to C$86.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 27th. Finally, CIBC lifted their target price on Bank of Nova Scotia from C$90.00 to C$93.00 and gave the company a "neutral" rating in a research note on Friday, September 5th. 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. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of C$85.85.

Bank of Nova Scotia Stock Up 0.5%

The company has a fifty day moving average price of C$81.12 and a 200-day moving average price of C$74.15. The stock has a market capitalization of C$111.32 billion, a P/E ratio of 17.13, a PEG ratio of 1.33 and a beta of 1.35.

Bank of Nova Scotia Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 29th. Investors of record on Tuesday, July 29th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.9%. This is a boost from Bank of Nova Scotia's previous quarterly dividend of $1.06. The ex-dividend date of this dividend was Wednesday, July 2nd. Bank of Nova Scotia's payout ratio is 81.84%.

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.