Avanza Fonder AB cut its holdings in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 12.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 71,293 shares of the bank's stock after selling 10,500 shares during the period. Avanza Fonder AB's holdings in Bank of Nova Scotia were worth $3,381,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Bank of Nova Scotia by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 51,363,146 shares of the bank's stock worth $2,758,150,000 after buying an additional 969,488 shares during the last quarter. Toronto Dominion Bank boosted its position in Bank of Nova Scotia by 1.7% in the 4th quarter. Toronto Dominion Bank now owns 25,425,639 shares of the bank's stock valued at $1,363,619,000 after buying an additional 434,771 shares during the last quarter. TD Asset Management Inc. boosted its position in Bank of Nova Scotia by 1.7% in the 4th quarter. TD Asset Management Inc. now owns 18,966,078 shares of the bank's stock valued at $1,017,933,000 after buying an additional 308,837 shares during the last quarter. Norges Bank bought a new position in shares of Bank of Nova Scotia during the fourth quarter worth about $690,746,000. Finally, CIBC Asset Management Inc lifted its position in shares of Bank of Nova Scotia by 1.8% during the fourth quarter. CIBC Asset Management Inc now owns 10,259,279 shares of the bank's stock worth $551,766,000 after purchasing an additional 184,761 shares during the last quarter. 49.13% of the stock is currently owned by institutional investors and hedge funds.
Bank of Nova Scotia Price Performance
NYSE:BNS traded down $0.01 during trading hours on Friday, reaching $54.30. 2,201,318 shares of the company's stock were exchanged, compared to its average volume of 1,720,810. The company has a market capitalization of $67.64 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 1.16 and a beta of 1.13. The Bank of Nova Scotia has a 12 month low of $43.68 and a 12 month high of $57.07. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The business's 50-day simple moving average is $50.44 and its two-hundred day simple moving average is $50.98.
Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last issued 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). The business had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $8.98 billion. Bank of Nova Scotia had a return on equity of 11.56% and a net margin of 10.20%. The company's quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.58 earnings per share. Sell-side analysts expect that The Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.
Bank of Nova Scotia Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 29th. Investors of record on Wednesday, July 2nd will be paid a $0.7996 dividend. This is a positive change 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 yield of 5.89%. Bank of Nova Scotia's dividend payout ratio (DPR) is currently 93.84%.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on BNS shares. Royal Bank of Canada dropped their price objective on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating on the stock in a research note on Wednesday, February 26th. Bank of America lowered shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research note on Monday, March 31st. CIBC reiterated a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Cibc World Mkts lowered shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Finally, Wall Street Zen upgraded shares of Bank of Nova Scotia from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $81.00.
Read Our Latest Analysis on Bank of Nova Scotia
Bank of Nova Scotia 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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