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

The Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS's share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$71.51 and traded as high as C$76.17. Bank of Nova Scotia shares last traded at C$76.00, with a volume of 7,685,457 shares.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Jefferies Financial Group increased their price target on Bank of Nova Scotia from C$70.00 to C$75.00 and gave the stock a "hold" rating in a research note on Wednesday, May 28th. Canaccord Genuity Group increased their target price on Bank of Nova Scotia from C$81.00 to C$85.00 in a research report on Tuesday. UBS Group cut their target price on Bank of Nova Scotia from C$85.00 to C$78.00 in a research report on Thursday, May 22nd. Barclays cut 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 research report on Monday, June 9th. Finally, TD Securities increased their target price on Bank of Nova Scotia from C$77.00 to C$79.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Nine research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Bank of Nova Scotia has an average rating of "Hold" and an average price target of C$77.62.

Bank of Nova Scotia Price Performance

The firm has a market capitalization of C$95.13 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. The stock has a 50-day moving average price of C$74.33 and a 200-day moving average price of C$71.60.

Bank of Nova Scotia Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Tuesday, July 29th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 5.67%. This is a positive change from Bank of Nova Scotia's previous quarterly dividend of $1.06. The ex-dividend date of this dividend 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.