Bank of Nova Scotia (TSE:BNS) Shares Cross Above 200-Day Moving Average of $62.93

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$62.93 and traded as high as C$63.57. Bank of Nova Scotia shares last traded at C$63.15, with a volume of 7,662,848 shares changing hands.

Wall Street Analysts Forecast Growth

BNS has been the subject of a number of recent analyst reports. Desjardins upped their price objective 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. Jefferies Financial Group increased their price target on Bank of Nova Scotia from C$63.00 to C$66.00 and gave the company a “hold” rating in a research report on Wednesday, February 28th. BMO Capital Markets raised their price objective on Bank of Nova Scotia from C$69.00 to C$74.00 in a research report on Friday, April 5th. Royal Bank of Canada raised their price objective on Bank of Nova Scotia from C$62.00 to C$64.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 28th. Finally, CIBC lowered their target price on Bank of Nova Scotia from C$66.00 to C$64.00 and set a “neutral” rating on the stock in a research note on Friday, March 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$66.97.

Bank of Nova Scotia Stock Up 0.7 %

The company’s fifty day simple moving average is C$66.48 and its 200 day simple moving average is C$62.96. The firm has a market capitalization of C$77.62 billion, a PE ratio of 10.41, a price-to-earnings-growth 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 the consensus estimate 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 company had revenue of C$8.43 billion during the quarter, compared to the consensus estimate of C$8.12 billion. Equities research analysts forecast that The Bank of Nova Scotia will post 6.5752475 EPS for the current year.

Bank of Nova Scotia Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Tuesday, April 2nd were issued a $1.06 dividend. This represents a $4.24 annualized dividend and a yield of 6.66%. The ex-dividend date was Monday, April 1st. Bank of Nova Scotia’s dividend payout ratio is currently 69.39%.

Bank of Nova Scotia Company Profile

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.