Bank of Nova Scotia (TSE:BNS) Stock Price Crosses Above 200-Day Moving Average of $62.75

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$62.75 and traded as high as C$64.80. Bank of Nova Scotia shares last traded at C$64.22, with a volume of 2,766,852 shares changing hands.

Wall Street Analyst Weigh In

BNS has been the subject of a number of recent analyst reports. National Bankshares increased their target price on shares of Bank of Nova Scotia from C$66.00 to C$67.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 28th. Desjardins increased their target price on shares of Bank of Nova Scotia from C$64.00 to C$68.00 and gave the company a “hold” rating in a research report on Wednesday, February 28th. Royal Bank of Canada increased their target price on shares of Bank of Nova Scotia from C$62.00 to C$64.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 28th. TD Securities increased their target price on shares of Bank of Nova Scotia from C$64.00 to C$65.00 and gave the company a “hold” rating in a research report on Wednesday, February 28th. Finally, Canaccord Genuity Group increased their target price on shares of Bank of Nova Scotia from C$65.00 to C$67.50 and gave the company a “hold” rating in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$66.97.

Bank of Nova Scotia Trading Up 0.2 %

The firm’s 50-day moving average price is C$66.41 and its 200 day moving average price is C$62.76. The company has a market cap of C$78.42 billion, a price-to-earnings ratio of 10.54, a P/E/G ratio of 1.33 and a beta of 0.96.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its earnings results on Tuesday, February 27th. The bank reported C$1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.61 by C$0.08. Bank of Nova Scotia had a return on equity of 10.20% and a net margin of 26.75%. The company had revenue of C$8.43 billion for the quarter, compared to analysts’ expectations of C$8.12 billion. Analysts forecast that The Bank of Nova Scotia will post 6.5752475 earnings per share for the current fiscal year.

Bank of Nova Scotia Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Tuesday, April 2nd will be issued a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.60%. The ex-dividend date of this dividend is Monday, April 1st. Bank of Nova Scotia’s dividend payout ratio is currently 69.39%.

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.