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

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$75.44 and traded as high as C$90.87. Bank of Nova Scotia shares last traded at C$90.87, with a volume of 6,918,585 shares changing hands.

Wall Street Analyst Weigh In

BNS has been the subject of several research reports. Canaccord Genuity Group increased their price objective on Bank of Nova Scotia from C$87.00 to C$90.00 and gave the company a “buy” rating in a report on Wednesday, August 27th. CIBC lifted their target price on shares of Bank of Nova Scotia from C$90.00 to C$93.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. Desjardins upped their price target on shares of Bank of Nova Scotia from C$79.00 to C$85.00 and gave the company a “hold” rating in a report on Wednesday, August 27th. Barclays upped their price target on shares of Bank of Nova Scotia from C$81.00 to C$86.00 in a report on Wednesday, August 27th. Finally, National Bankshares set a C$81.00 target price on shares of Bank of Nova Scotia and gave the stock a “sector perform” rating in a research report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Bank of Nova Scotia presently has a consensus rating of “Hold” and a consensus price target of C$85.85.

Bank of Nova Scotia Trading Up 0.9%

The company’s 50 day moving average price is C$83.60 and its two-hundred day moving average price is C$75.44. The stock has a market cap of C$113.19 billion, a P/E ratio of 17.37, a PEG ratio of 1.33 and a beta of 1.35.

Bank of Nova Scotia Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 29th. Investors of record on Wednesday, October 29th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Tuesday, October 7th. Bank of Nova Scotia’s dividend payout ratio is currently 81.84%.

About Bank of Nova Scotia

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It offers a range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.