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

Shares of 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$77.31 and traded as high as C$90.10. Bank of Nova Scotia shares last traded at C$89.87, with a volume of 2,671,424 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BNS shares. Jefferies Financial Group increased their price objective on shares of Bank of Nova Scotia from C$83.00 to C$86.00 in a research report on Wednesday, August 27th. CIBC increased their price objective on shares of Bank of Nova Scotia from C$90.00 to C$93.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. Barclays raised their target price on shares of Bank of Nova Scotia from C$81.00 to C$86.00 in a research report on Wednesday, August 27th. Bank of America raised their target price on shares of Bank of Nova Scotia from C$78.00 to C$88.00 in a research report on Wednesday, August 27th. Finally, TD Securities raised their target price on shares of Bank of Nova Scotia from C$87.00 to C$93.00 and gave the company a “buy” rating in a research report on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$85.85.

Bank of Nova Scotia Price Performance

The firm has a market cap of C$111.94 billion, a P/E ratio of 17.18, a P/E/G ratio of 1.33 and a beta of 1.30. The business’s 50-day moving average is C$86.67 and its two-hundred day moving average is C$77.31.

Bank of Nova Scotia Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 29th. Shareholders of record on Wednesday, October 29th will be paid a $1.10 dividend. The ex-dividend date is Tuesday, October 7th. This represents a $4.40 dividend on an annualized basis and a yield of 4.9%. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 81.84%.

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.