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)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$97.63 and traded as high as C$101.69. Bank of Nova Scotia shares last traded at C$101.67, with a volume of 3,339,333 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BNS. Desjardins lifted their price target on Bank of Nova Scotia from C$106.00 to C$107.00 and gave the stock a “hold” rating in a research note on Wednesday, February 25th. Royal Bank Of Canada lowered their price target on Bank of Nova Scotia from C$106.00 to C$98.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 25th. UBS Group lifted their price target on Bank of Nova Scotia from C$118.00 to C$120.00 in a research note on Wednesday, February 25th. BMO Capital Markets lifted their price target on Bank of Nova Scotia from C$98.00 to C$101.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 25th. Finally, Canaccord Genuity Group lowered Bank of Nova Scotia from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$118.00 to C$110.00 in a research note on Monday, March 9th. One analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$106.08.

Bank of Nova Scotia Price Performance

The stock has a 50 day moving average price of C$99.79 and a 200-day moving average price of C$97.72. The stock has a market capitalization of C$127.37 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 1.33 and a beta of 1.16.

Bank of Nova Scotia Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 28th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, April 7th. This represents a $4.40 dividend on an annualized basis and a yield of 4.3%. Bank of Nova Scotia’s payout ratio is 64.69%.

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.