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

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$91.46 and traded as high as C$103.07. Bank of Nova Scotia shares last traded at C$102.80, with a volume of 5,845,955 shares trading hands.

Analyst Ratings Changes

BNS has been the subject of several research reports. Barclays lifted their target price on Bank of Nova Scotia from C$95.00 to C$97.00 in a research report on Wednesday, December 3rd. TD Securities lifted their price objective on shares of Bank of Nova Scotia from C$93.00 to C$99.00 in a report on Monday, November 10th. Canaccord Genuity Group boosted their target price on shares of Bank of Nova Scotia from C$98.00 to C$100.00 in a research note on Wednesday, December 3rd. BMO Capital Markets raised their price target on shares of Bank of Nova Scotia from C$93.00 to C$98.00 in a research report on Wednesday, December 17th. Finally, Desjardins lifted their price target on shares of Bank of Nova Scotia from C$100.00 to C$104.00 and gave the company a “hold” rating in a report on Thursday, December 18th. Three investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$94.83.

Bank of Nova Scotia Stock Up 1.0%

The company has a market capitalization of C$127.09 billion, a P/E ratio of 18.13, a PEG ratio of 1.33 and a beta of 1.37. The business has a 50 day simple moving average of C$100.54 and a 200-day simple moving average of C$91.46.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings results on Tuesday, December 2nd. The bank reported C$1.93 EPS for the quarter. The business had revenue of C$9.77 billion during the quarter. Bank of Nova Scotia had a net margin of 17.68% and a return on equity of 9.64%. Equities analysts forecast that The Bank of Nova Scotia will post 7.1286267 EPS for the current fiscal year.

Insider Activity at Bank of Nova Scotia

In other news, insider Julie Walsh sold 3,716 shares of Bank of Nova Scotia stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of C$100.62, for a total transaction of C$373,903.92. Following the sale, the insider owned 1,430 shares of the company’s stock, valued at approximately C$143,886.60. The trade was a 72.21% decrease in their ownership of the stock. Insiders own 0.03% of the company’s stock.

About Bank of Nova Scotia

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. The bank’s international operations span numerous countries and are more concentrated in Central and South America.