Amundi Sells 202,272 Shares of Bank of Nova Scotia (The) $BNS

Amundi cut its position in shares of Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 6.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,100,831 shares of the bank's stock after selling 202,272 shares during the period. Amundi owned about 0.25% of Bank of Nova Scotia worth $274,419,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BNS. Norges Bank acquired a new stake in shares of Bank of Nova Scotia during the 4th quarter valued at about $1,368,456,000. Canada Pension Plan Investment Board bought a new stake in shares of Bank of Nova Scotia in the 2nd quarter valued at approximately $1,016,738,000. Legal & General Group Plc bought a new stake in shares of Bank of Nova Scotia in the 2nd quarter valued at approximately $709,837,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Bank of Nova Scotia in the 2nd quarter worth approximately $567,278,000. Finally, FIL Ltd raised its holdings in shares of Bank of Nova Scotia by 49.5% in the 4th quarter. FIL Ltd now owns 16,489,540 shares of the bank's stock worth $1,216,157,000 after buying an additional 5,461,052 shares in the last quarter. 49.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BNS. TD Securities raised Bank of Nova Scotia from a "hold" rating to a "buy" rating in a research note on Tuesday, August 25th. Keefe, Bruyette & Woods began coverage on Bank of Nova Scotia in a research note on Friday, August 21st. They set an "outperform" rating for the company. Weiss Ratings raised Bank of Nova Scotia from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday, September 1st. Royal Bank Of Canada boosted their target price on shares of Bank of Nova Scotia from $98.00 to $117.00 and gave the company a "sector perform" rating in a research note on Thursday, May 28th. Finally, National Bank Financial raised shares of Bank of Nova Scotia from a "sector perform" rating to an "outperform" rating in a report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Bank of Nova Scotia currently has an average rating of "Moderate Buy" and an average target price of $117.00.

Bank of Nova Scotia Stock Performance

BNS stock opened at $93.74 on Tuesday. The stock has a market capitalization of $114.25 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 1.05 and a beta of 1.12. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.04 and a quick ratio of 1.04. The company has a 50 day moving average price of $88.95 and a 200 day moving average price of $80.87. Bank of Nova Scotia has a fifty-two week low of $62.98 and a fifty-two week high of $95.34.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last released its earnings results on Tuesday, August 25th. The bank reported $1.64 earnings per share for the quarter, topping analysts' consensus estimates of $1.53 by $0.11. The company had revenue of $7.52 billion during the quarter, compared to the consensus estimate of $7.11 billion. Bank of Nova Scotia had a return on equity of 16.12% and a net margin of 13.91%.The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.84 earnings per share. Analysts forecast that Bank of Nova Scotia will post 6.19 EPS for the current year.

Bank of Nova Scotia Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Tuesday, October 6th will be given a dividend of $1.14 per share. The ex-dividend date is Tuesday, October 6th. This represents a $4.56 annualized dividend and a dividend yield of 4.9%. Bank of Nova Scotia's payout ratio is currently 58.05%.

Bank of Nova Scotia Company Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada's largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.

Scotiabank's core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.

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