AlphaCore Capital LLC bought a new position in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 7,687 shares of the bank's stock, valued at approximately $413,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BNS. Norges Bank purchased a new stake in Bank of Nova Scotia during the fourth quarter valued at about $690,746,000. Zurich Insurance Group Ltd FI purchased a new stake in Bank of Nova Scotia during the fourth quarter valued at about $96,529,000. Geode Capital Management LLC boosted its position in Bank of Nova Scotia by 31.8% during the fourth quarter. Geode Capital Management LLC now owns 7,433,171 shares of the bank's stock valued at $406,103,000 after buying an additional 1,792,700 shares during the period. Vanguard Group Inc. boosted its position in Bank of Nova Scotia by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 51,363,146 shares of the bank's stock valued at $2,758,150,000 after buying an additional 969,488 shares during the period. Finally, FIL Ltd boosted its position in Bank of Nova Scotia by 37.8% during the fourth quarter. FIL Ltd now owns 2,582,696 shares of the bank's stock valued at $138,689,000 after buying an additional 708,999 shares during the period. 49.13% of the stock is currently owned by hedge funds and other institutional investors.
Bank of Nova Scotia Trading Up 0.7%
BNS stock traded up $0.37 during trading on Friday, reaching $53.63. The company had a trading volume of 617,879 shares, compared to its average volume of 1,704,555. The Bank of Nova Scotia has a 52 week low of $43.68 and a 52 week high of $57.07. The company has a market cap of $66.79 billion, a P/E ratio of 12.41, a PEG ratio of 1.16 and a beta of 1.11. The business has a 50 day moving average of $49.00 and a 200 day moving average of $51.10. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03.
Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last announced its quarterly earnings data 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 11.56% and a net margin of 10.20%. The business had revenue of $6.59 billion during the quarter, compared to analysts' expectations of $8.98 billion. During the same quarter last year, the company posted $1.58 EPS. Bank of Nova Scotia's revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, sell-side analysts forecast that The Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.
Bank of Nova Scotia Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 2nd will be issued a dividend of $0.7996 per share. This is a boost from Bank of Nova Scotia's previous quarterly dividend of $0.74. The ex-dividend date is Wednesday, July 2nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 5.96%. Bank of Nova Scotia's dividend payout ratio is presently 89.44%.
Analyst Ratings Changes
Several analysts have issued reports on the stock. Royal Bank of Canada cut their price target on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 26th. Cibc World Mkts downgraded shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Bank of America downgraded shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research note on Monday, March 31st. Finally, CIBC reaffirmed a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Bank of Nova Scotia presently has an average rating of "Hold" and a consensus target price of $81.00.
Check Out Our Latest Stock Report on Bank of Nova Scotia
Bank of Nova Scotia Company Profile
(
Free Report)
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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