Bank of Nova Scotia (TSE:BNS) Stock Price Passes Above 200 Day Moving Average of $62.93

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$62.93 and traded as high as C$63.57. Bank of Nova Scotia shares last traded at C$63.15, with a volume of 7,662,848 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have commented on BNS. Royal Bank of Canada upped their price target on Bank of Nova Scotia from C$62.00 to C$64.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 28th. TD Securities increased their target price on Bank of Nova Scotia from C$64.00 to C$65.00 and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Desjardins increased their price target on Bank of Nova Scotia from C$64.00 to C$68.00 and gave the company a “hold” rating in a research note on Wednesday, February 28th. Canaccord Genuity Group increased their price target on Bank of Nova Scotia from C$65.00 to C$67.50 and gave the company a “hold” rating in a research note on Wednesday, February 28th. Finally, CIBC dropped their price target on Bank of Nova Scotia from C$66.00 to C$64.00 and set a “neutral” rating for the company in a research note on Friday, March 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$66.97.

Bank of Nova Scotia Trading Down 1.5 %

The firm has a market capitalization of C$77.04 billion, a P/E ratio of 10.34, a price-to-earnings-growth ratio of 1.33 and a beta of 0.96. The firm has a 50 day moving average price of C$66.49 and a 200-day moving average price of C$62.93.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its quarterly earnings results on Tuesday, February 27th. The bank reported C$1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.61 by C$0.08. Bank of Nova Scotia had a return on equity of 10.20% and a net margin of 26.75%. The firm had revenue of C$8.43 billion during the quarter, compared to analyst estimates of C$8.12 billion. Research analysts anticipate that The Bank of Nova Scotia will post 6.5752475 earnings per share for the current year.

Bank of Nova Scotia Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Tuesday, April 2nd will be paid a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.71%. The ex-dividend date is Monday, April 1st. Bank of Nova Scotia’s dividend payout ratio is currently 69.39%.

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.