Bank of Nova Scotia (TSE:BNS) Shares Pass Above 200-Day Moving Average of $63.05

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$63.05 and traded as high as C$64.28. Bank of Nova Scotia shares last traded at C$64.13, with a volume of 3,728,428 shares.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. BMO Capital Markets raised their price objective on Bank of Nova Scotia from C$69.00 to C$74.00 in a research note on Friday, April 5th. Jefferies Financial Group raised their target price on Bank of Nova Scotia from C$63.00 to C$66.00 and gave the company a “hold” rating in a report on Wednesday, February 28th. Desjardins raised their target price on Bank of Nova Scotia from C$64.00 to C$68.00 and gave the company a “hold” rating in a report on Wednesday, February 28th. Canaccord Genuity Group raised their target price on Bank of Nova Scotia from C$65.00 to C$67.50 and gave the company a “hold” rating in a report on Wednesday, February 28th. Finally, Royal Bank of Canada raised their target price on Bank of Nova Scotia from C$62.00 to C$64.00 and gave the company a “sector perform” rating in a report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of C$66.97.

Bank of Nova Scotia Trading Up 1.3 %

The firm has a market capitalization of C$78.24 billion, a P/E ratio of 10.50, a price-to-earnings-growth ratio of 1.33 and a beta of 0.96. The company has a 50-day moving average of C$66.44 and a 200-day moving average of C$63.05.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its earnings results on Tuesday, February 27th. The bank reported C$1.69 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of C$8.43 billion during the quarter, compared to analyst estimates of C$8.12 billion. Research analysts predict that The Bank of Nova Scotia will post 6.5752475 EPS for the current year.

Bank of Nova Scotia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Tuesday, April 2nd were given a $1.06 dividend. This represents a $4.24 annualized dividend and a dividend yield of 6.61%. The ex-dividend date was Monday, April 1st. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 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.