Bank of Nova Scotia (The) (NYSE:BNS - Get Free Report) TSE: BNS shares saw an uptick in trading volume on Tuesday . 6,111,235 shares were traded during mid-day trading, an increase of 247% from the previous session's volume of 1,760,531 shares.The stock last traded at $55.59 and had previously closed at $55.27.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on BNS. Wall Street Zen lowered Bank of Nova Scotia from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Bank of America lowered shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $81.00.
Get Our Latest Report on Bank of Nova Scotia
Bank of Nova Scotia Trading Up 0.7%
The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50 day simple moving average of $52.19 and a 200-day simple moving average of $50.80. The stock has a market capitalization of $69.29 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 1.38 and a beta of 1.13.
Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last announced its earnings results on Tuesday, May 27th. The bank reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.14 by ($0.08). Bank of Nova Scotia had a return on equity of 11.27% and a net margin of 8.83%. The company had revenue of $6.59 billion during the quarter, compared to analyst estimates of $8.98 billion. During the same period in the previous year, the company posted $1.58 earnings per share. Bank of Nova Scotia's revenue for the quarter was up 8.8% on a year-over-year basis. As a group, equities analysts expect that Bank of Nova Scotia will post 4.91 earnings per share for the current year.
Bank of Nova Scotia Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 2nd will be given a dividend of $0.7996 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. This is a boost from Bank of Nova Scotia's previous quarterly dividend of $0.74. This represents a $3.20 annualized dividend and a yield of 5.75%. Bank of Nova Scotia's payout ratio is 86.51%.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of BNS. Bank of New York Mellon Corp lifted its stake in Bank of Nova Scotia by 7.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,095,285 shares of the bank's stock valued at $58,839,000 after acquiring an additional 77,820 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Bank of Nova Scotia by 54.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,629 shares of the bank's stock worth $1,216,000 after buying an additional 8,018 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Bank of Nova Scotia by 11.8% in the 4th quarter. HighTower Advisors LLC now owns 11,438 shares of the bank's stock valued at $614,000 after purchasing an additional 1,207 shares during the period. Dynamic Advisor Solutions LLC boosted its stake in shares of Bank of Nova Scotia by 14.8% in the first quarter. Dynamic Advisor Solutions LLC now owns 4,634 shares of the bank's stock valued at $220,000 after buying an additional 596 shares during the period. Finally, Private Advisor Group LLC grew its holdings in shares of Bank of Nova Scotia by 3.5% during the 4th quarter. Private Advisor Group LLC now owns 6,248 shares of the bank's stock worth $336,000 after purchasing an additional 211 shares in the last quarter. 49.13% of the stock is currently owned by institutional investors.
About Bank of Nova Scotia
(
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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.
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