Gold Investment Management Ltd. lifted its stake in Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 5.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,669 shares of the bank's stock after buying an additional 6,641 shares during the period. Bank of Nova Scotia makes up 2.8% of Gold Investment Management Ltd.'s portfolio, making the stock its 3rd biggest position. Gold Investment Management Ltd.'s holdings in Bank of Nova Scotia were worth $6,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of BNS. Achmea Investment Management B.V. lifted its stake in shares of Bank of Nova Scotia by 62.4% in the first quarter. Achmea Investment Management B.V. now owns 237,355 shares of the bank's stock worth $11,252,000 after acquiring an additional 91,215 shares in the last quarter. PDS Planning Inc lifted its stake in shares of Bank of Nova Scotia by 19.4% in the first quarter. PDS Planning Inc now owns 6,897 shares of the bank's stock worth $327,000 after acquiring an additional 1,121 shares in the last quarter. Value Partners Investments Inc. lifted its stake in shares of Bank of Nova Scotia by 907.4% in the first quarter. Value Partners Investments Inc. now owns 1,124,324 shares of the bank's stock worth $53,362,000 after acquiring an additional 1,012,715 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Bank of Nova Scotia by 145.7% in the first quarter. Bessemer Group Inc. now owns 103,414 shares of the bank's stock worth $4,908,000 after acquiring an additional 61,326 shares in the last quarter. Finally, JCIC Asset Management Inc. acquired a new position in shares of Bank of Nova Scotia in the first quarter worth about $174,000. Hedge funds and other institutional investors own 49.13% of the company's stock.
Bank of Nova Scotia Stock Performance
Shares of Bank of Nova Scotia stock traded down $0.25 on Friday, reaching $54.86. 4,053,743 shares of the company were exchanged, compared to its average volume of 1,743,819. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.03 and a current ratio of 1.03. The company's 50-day moving average is $52.04 and its two-hundred day moving average is $50.84. The firm has a market cap of $68.33 billion, a price-to-earnings ratio of 16.09, a P/E/G ratio of 1.38 and a beta of 1.13. Bank of Nova Scotia has a 1-year low of $43.68 and a 1-year high of $57.07.
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 earnings per share for the quarter, missing analysts' consensus estimates of $1.14 by ($0.08). The company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $8.98 billion. Bank of Nova Scotia had a return on equity of 11.27% and a net margin of 8.83%. The firm's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 earnings per share. As a group, research analysts expect that Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.
Bank of Nova Scotia Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 2nd will be given a dividend of $0.7996 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 5.83%. This is a boost from Bank of Nova Scotia's previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Wednesday, July 2nd. Bank of Nova Scotia's dividend payout ratio is presently 86.51%.
Wall Street Analysts Forecast Growth
BNS has been the topic of several recent analyst reports. Bank of America cut Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research note on Monday, March 31st. Wall Street Zen cut Bank of Nova Scotia from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $81.00.
Read Our Latest Report on BNS
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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