Skandinaviska Enskilda Banken AB publ Raises Stock Holdings in Bank of Nova Scotia (The) (NYSE:BNS)

Key Points

• Skandinaviska Enskilda Banken AB publ increased its holdings in Bank of Nova Scotia by 4.7% to own 168,186 shares, valued at approximately $7,977,000.
• Recent analyst ratings show a downgrade for Bank of Nova Scotia, with Bank of America and Wall Street Zen lowering their ratings, leading to an average rating of "Hold" and a consensus target price of $81.00.
• Bank of Nova Scotia recently announced an increase in its quarterly dividend to $0.7996 per share, reflecting a 5.65% yield with a payout ratio of 94.72%.

Skandinaviska Enskilda Banken AB publ boosted its position in Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 4.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 168,186 shares of the bank's stock after acquiring an additional 7,500 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Bank of Nova Scotia were worth $7,977,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp bought a new position in Bank of Nova Scotia in the fourth quarter worth approximately $25,000. Compagnie Lombard Odier SCmA bought a new position in Bank of Nova Scotia in the first quarter worth approximately $52,000. Independence Bank of Kentucky boosted its holdings in Bank of Nova Scotia by 38.4% in the first quarter. Independence Bank of Kentucky now owns 1,175 shares of the bank's stock worth $56,000 after acquiring an additional 326 shares in the last quarter. North Capital Inc. bought a new position in Bank of Nova Scotia in the first quarter worth approximately $81,000. Finally, Atlas Capital Advisors Inc. bought a new position in Bank of Nova Scotia in the fourth quarter worth approximately $83,000. Institutional investors own 49.13% of the company's stock.

Bank of Nova Scotia Stock Down 0.1%

Shares of BNS stock traded down $0.08 during trading hours on Friday, reaching $56.63. The company had a trading volume of 872,149 shares, compared to its average volume of 2,167,649. Bank of Nova Scotia has a 12 month low of $43.67 and a 12 month high of $57.07. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.03. The business has a fifty day simple moving average of $54.25 and a 200-day simple moving average of $51.05. The company has a market cap of $70.41 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 1.42 and a beta of 1.12.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last posted 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 company 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 firm's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.58 EPS. On average, 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Investors 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 5.65%. This is an increase from Bank of Nova Scotia's previous quarterly dividend of $0.74. The ex-dividend date is Wednesday, July 2nd. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 94.72%.

Analyst Ratings Changes

Several research analysts have issued reports on BNS shares. Bank of America lowered Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a report on Monday, March 31st. Wall Street Zen lowered Bank of Nova Scotia from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $81.00.

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.