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

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$66.18 and traded as high as C$72.90. Bank of Nova Scotia shares last traded at C$71.99, with a volume of 3,981,734 shares traded.

Wall Street Analyst Weigh In

BNS has been the subject of several research reports. CIBC raised Bank of Nova Scotia from a “neutral” rating to an “outperform” rating and raised their target price for the company from C$78.00 to C$82.00 in a research note on Friday, September 20th. Cibc World Mkts upgraded shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. BMO Capital Markets lowered their price objective on shares of Bank of Nova Scotia from C$74.00 to C$72.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 28th. TD Securities increased their target price on shares of Bank of Nova Scotia from C$69.00 to C$71.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Finally, Cormark decreased their price target on shares of Bank of Nova Scotia from C$68.00 to C$65.00 and set a “market perform” rating on the stock in a research report on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$68.25.

Bank of Nova Scotia Stock Down 1.0 %

The firm has a market cap of C$89.27 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 1.33 and a beta of 0.97. The company has a 50-day moving average price of C$70.00 and a 200 day moving average price of C$66.19.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its quarterly earnings data on Tuesday, August 27th. The bank reported C$1.63 EPS for the quarter, hitting analysts’ consensus estimates of C$1.63. Bank of Nova Scotia had a return on equity of 9.49% and a net margin of 25.38%. The firm had revenue of C$8.36 billion during the quarter, compared to analyst estimates of C$8.50 billion. Equities analysts forecast that The Bank of Nova Scotia will post 7.1286267 EPS for the current year.

Bank of Nova Scotia Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 29th. Investors of record on Wednesday, October 2nd will be given a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date is Wednesday, October 2nd. Bank of Nova Scotia’s payout ratio is presently 74.26%.

About Bank of Nova Scotia

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.