Bank of Nova Scotia (TSE:BNS) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$96.49 and traded as high as C$96.89. Bank of Nova Scotia shares last traded at C$95.85, with a volume of 1,906,439 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have commented on BNS shares. Canaccord Genuity Group lowered Bank of Nova Scotia from a “buy” rating to a “hold” rating and lowered their price objective for the stock from C$118.00 to C$110.00 in a research report on Monday, March 9th. Raymond James Financial lifted their target price on shares of Bank of Nova Scotia from C$114.00 to C$117.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. National Bank Financial decreased their target price on shares of Bank of Nova Scotia from C$102.00 to C$100.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 25th. Canadian Imperial Bank of Commerce increased their price target on shares of Bank of Nova Scotia from C$108.00 to C$109.00 in a report on Thursday, March 5th. Finally, Jefferies Financial Group raised their price target on shares of Bank of Nova Scotia from C$97.00 to C$104.00 in a research report on Wednesday, February 11th. One investment analyst has rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Bank of Nova Scotia presently has an average rating of “Hold” and an average price target of C$106.75.

Bank of Nova Scotia Price Performance

The firm has a fifty day simple moving average of C$101.64 and a 200 day simple moving average of C$96.49. The company has a market capitalization of C$118.13 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 1.33 and a beta of 1.16.

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