Aviso Financial Inc. Has $14.40 Million Stock Holdings in Bank of Nova Scotia (The) $BNS

Key Points

• Aviso Financial Inc. reduced its stake in Bank of Nova Scotia by 12.5%, now holding 303,648 shares valued at approximately $14.4 million.
• Bank of Nova Scotia missed earnings expectations for the latest quarter, reporting $1.06 EPS against a consensus estimate of $1.14 EPS, with revenues of $6.59 billion compared to a forecast of $8.98 billion.
• The bank recently increased its quarterly dividend to $0.7996 per share, which reflects a dividend yield of 5.6% and a payout ratio of 94.72%.

Aviso Financial Inc. trimmed its stake in Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 12.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 303,648 shares of the bank's stock after selling 43,365 shares during the quarter. Aviso Financial Inc.'s holdings in Bank of Nova Scotia were worth $14,402,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA bought a new stake in Bank of Nova Scotia in the first quarter valued at $52,000. Independence Bank of Kentucky increased its holdings in shares of Bank of Nova Scotia by 38.4% during the first quarter. Independence Bank of Kentucky now owns 1,175 shares of the bank's stock valued at $56,000 after purchasing an additional 326 shares during the period. North Capital Inc. acquired a new position in shares of Bank of Nova Scotia during the first quarter valued at $81,000. Dunhill Financial LLC acquired a new position in shares of Bank of Nova Scotia during the fourth quarter valued at $95,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Bank of Nova Scotia by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,343 shares of the bank's stock valued at $159,000 after purchasing an additional 336 shares during the period. 49.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Bank of Nova Scotia from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Bank of Nova Scotia currently has an average rating of "Hold" and an average price target of $81.00.

Bank of Nova Scotia Stock Up 1.8%

NYSE:BNS traded up $1.0250 on Friday, hitting $57.6350. 1,999,259 shares of the company's stock traded hands, compared to its average volume of 1,970,565. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.62. Bank of Nova Scotia has a 1 year low of $44.09 and a 1 year high of $57.70. The firm has a 50-day moving average price of $55.47 and a 200-day moving average price of $51.69. The company has a market cap of $71.61 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 1.45 and a beta of 1.14.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last announced its quarterly earnings results on Tuesday, May 27th. The bank reported $1.06 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.08). The firm had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $8.98 billion. Bank of Nova Scotia had a net margin of 8.83% and a return on equity of 11.27%. The company's quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.58 EPS. Equities analysts anticipate that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Bank of Nova Scotia Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 2nd were issued a dividend of $0.7996 per share. The ex-dividend date was 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 dividend yield of 5.5%. Bank of Nova Scotia's dividend payout ratio (DPR) is currently 94.72%.

Bank of Nova Scotia Profile

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.