Bank of Nova Scotia (TSE:BNS) Shares Pass Above 200 Day Moving Average – Time to Sell?

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$96.49 and traded as high as C$96.89. Bank of Nova Scotia shares last traded at C$95.85, with a volume of 1,906,439 shares traded.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BNS. Canaccord Genuity Group downgraded Bank of Nova Scotia from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$118.00 to C$110.00 in a research note on Monday, March 9th. Royal Bank Of Canada upped their target price on shares of Bank of Nova Scotia from C$97.00 to C$106.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 25th. Jefferies Financial Group raised their target price on shares of Bank of Nova Scotia from C$97.00 to C$104.00 in a research note on Wednesday, February 11th. Raymond James Financial increased their price objective on shares of Bank of Nova Scotia from C$114.00 to C$117.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Finally, Desjardins raised their price objective on Bank of Nova Scotia from C$106.00 to C$107.00 and gave the company a “hold” rating in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$106.75.

Bank of Nova Scotia Price Performance

The firm has a market cap of C$115.37 billion, a P/E ratio of 13.89, a price-to-earnings-growth ratio of 1.33 and a beta of 1.16. The company’s 50-day simple moving average is C$101.37 and its 200 day simple moving average is C$96.53.

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. The bank’s international operations span numerous countries and are more concentrated in Central and South America.