Bank of Nova Scotia (TSE:BNS) Shares Pass Above 200-Day Moving Average of $63.05

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$63.05 and traded as high as C$64.28. Bank of Nova Scotia shares last traded at C$64.13, with a volume of 3,728,428 shares trading hands.

Wall Street Analyst Weigh In

BNS has been the subject of several recent analyst reports. Royal Bank of Canada boosted 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 note on Wednesday, February 28th. Canaccord Genuity Group boosted their price target on Bank of Nova Scotia from C$65.00 to C$67.50 and gave the stock a “hold” rating in a research note on Wednesday, February 28th. Jefferies Financial Group boosted their price target on Bank of Nova Scotia from C$63.00 to C$66.00 and gave the stock a “hold” rating in a research note on Wednesday, February 28th. Desjardins boosted their price target on Bank of Nova Scotia from C$64.00 to C$68.00 and gave the stock a “hold” rating in a research note on Wednesday, February 28th. Finally, CIBC decreased 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 investment analyst has rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$66.97.

Bank of Nova Scotia Price Performance

The business has a 50-day simple moving average of C$66.44 and a 200 day simple moving average of C$63.05. The firm has a market cap of C$78.24 billion, a PE ratio of 10.50, a PEG ratio of 1.33 and a beta of 0.96.

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

Bank of Nova Scotia Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Tuesday, April 2nd were given a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 6.61%. The ex-dividend date of this dividend was Monday, April 1st. Bank of Nova Scotia’s dividend payout ratio is currently 69.39%.

Bank of Nova Scotia Company Profile

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.