Bank of Nova Scotia (TSE:BNS) Stock Passes Above 200-Day Moving Average – Should You Sell?

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$69.36 and traded as high as C$77.14. Bank of Nova Scotia shares last traded at C$77.08, with a volume of 5,274,005 shares traded.

Analyst Ratings Changes

Several analysts recently commented on BNS shares. TD Securities reduced their price objective on shares of Bank of Nova Scotia from C$82.00 to C$81.00 and set a “buy” rating for the company in a research note on Wednesday, December 4th. UBS Group raised Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating and lifted their price target for the stock from C$71.00 to C$84.00 in a research note on Tuesday, November 19th. BMO Capital Markets raised their target price on shares of Bank of Nova Scotia from C$72.00 to C$84.00 in a report on Monday, November 18th. Finally, Barclays upgraded shares of Bank of Nova Scotia from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 21st. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$76.73.

Bank of Nova Scotia Price Performance

The firm has a 50-day simple moving average of C$75.98 and a 200 day simple moving average of C$69.50. The company has a market capitalization of C$95.52 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97.

Bank of Nova Scotia Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Tuesday, January 7th will be paid a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a yield of 5.50%. Bank of Nova Scotia’s dividend payout ratio (DPR) is 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.