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) shares passed 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 trading hands.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. TD Securities raised their price objective 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. National Bankshares lifted their price target on shares of Bank of Nova Scotia from C$66.00 to C$67.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 28th. CIBC lowered their price target on shares of Bank of Nova Scotia from C$66.00 to C$64.00 and set a “neutral” rating for the company in a research report on Friday, March 8th. Royal Bank of Canada lifted their price target on shares of Bank of Nova Scotia from C$62.00 to C$64.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 28th. Finally, Jefferies Financial Group lifted their price target on shares of Bank of Nova Scotia from C$63.00 to C$66.00 and gave the stock a “hold” rating in a research report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Bank of Nova Scotia currently has an average rating of “Hold” and an average price target of C$66.97.

Bank of Nova Scotia Stock Up 0.2 %

The stock’s fifty day moving average is C$66.41 and its 200-day moving average is C$62.76. The stock has a market cap of C$78.42 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 1.33 and a beta of 0.96.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its quarterly earnings results on Tuesday, February 27th. The bank reported C$1.69 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.61 by C$0.08. Bank of Nova Scotia had a net margin of 26.75% and a return on equity of 10.20%. The firm had revenue of C$8.43 billion for the quarter, compared to analyst estimates of C$8.12 billion. As a group, equities research analysts predict that The Bank of Nova Scotia will post 6.5752475 earnings per share for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Tuesday, April 2nd will be paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 6.60%. The ex-dividend date is Monday, April 1st. Bank of Nova Scotia’s 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.