Bank of Nova Scotia (TSE:BNS) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS)’s stock price crossed 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.

Analyst Ratings Changes

BNS has been the subject of several research reports. CIBC raised Bank of Nova Scotia from a “neutral” rating to an “outperform” rating and lifted their target price for the company from C$78.00 to C$82.00 in a research report on Friday, September 20th. BMO Capital Markets decreased their price objective on Bank of Nova Scotia from C$74.00 to C$72.00 and set a “market perform” rating for the company in a research note on Wednesday, August 28th. UBS Group set a C$67.00 price objective on Bank of Nova Scotia and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Cibc World Mkts upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 20th. Finally, TD Securities boosted their target price on Bank of Nova Scotia from C$69.00 to C$71.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Eleven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$68.25.

Bank of Nova Scotia Stock Down 1.0 %

The company has a market cap of C$89.27 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. The firm has a 50-day simple moving average of C$69.81 and a 200 day simple moving average of C$66.18.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its earnings results on Tuesday, August 27th. The bank reported C$1.63 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of C$1.63. The business had revenue of C$8.36 billion for the quarter, compared to analyst estimates of C$8.50 billion. Bank of Nova Scotia had a return on equity of 9.49% and a net margin of 25.38%. As a group, research analysts expect that The Bank of Nova Scotia will post 7.1286267 EPS for the current year.

Bank of Nova Scotia Dividend Announcement

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