Natixis Advisors LLC Sells 49,845 Shares of Bank of Nova Scotia (The) (NYSE:BNS)

Key Points

• Natixis Advisors LLC has reduced its holdings in Bank of Nova Scotia by 54.1%, now owning 42,356 shares valued at approximately $2.01 million.
• Bank of Nova Scotia's recent earnings report showed earnings per share of $1.06, missing the consensus estimate by $0.08, with revenue coming in below expectations at $6.59 billion.
• The bank announced a quarterly dividend increase, now at $0.7996 per share, which represents an annualized payout of $3.20 and a dividend yield of 5.7%.

Natixis Advisors LLC reduced its stake in Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 54.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,356 shares of the bank's stock after selling 49,845 shares during the period. Natixis Advisors LLC's holdings in Bank of Nova Scotia were worth $2,009,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Compagnie Lombard Odier SCmA bought a new position in Bank of Nova Scotia during the 1st quarter valued at about $52,000. Independence Bank of Kentucky lifted its stake in shares of Bank of Nova Scotia by 38.4% in the 1st quarter. Independence Bank of Kentucky now owns 1,175 shares of the bank's stock worth $56,000 after purchasing an additional 326 shares during the period. North Capital Inc. bought a new position in shares of Bank of Nova Scotia in the 1st quarter worth approximately $81,000. Dunhill Financial LLC bought a new position in shares of Bank of Nova Scotia in the 4th quarter worth approximately $95,000. Finally, JCIC Asset Management Inc. bought a new position in shares of Bank of Nova Scotia in the 1st quarter worth approximately $174,000. 49.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Bank of Nova Scotia from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned 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.

Bank of Nova Scotia Stock Performance

Shares of NYSE:BNS traded up $0.17 during mid-day trading on Wednesday, reaching $56.58. 364,934 shares of the company traded hands, compared to its average volume of 1,989,555. The company's 50 day moving average price is $55.08 and its 200-day moving average price is $51.43. The firm has a market cap of $70.35 billion, a PE ratio of 16.61, a PEG ratio of 1.41 and a beta of 1.14. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.03. Bank of Nova Scotia has a 52 week low of $44.09 and a 52 week high of $57.07.

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 (EPS) for the quarter, missing the consensus estimate 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 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 period last year, the business posted $1.58 EPS. On average, equities analysts expect 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. Investors of record on Wednesday, July 2nd were paid a dividend of $0.7996 per share. This is a boost from Bank of Nova Scotia's previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a $3.20 annualized dividend and a yield of 5.7%. Bank of Nova Scotia's dividend payout ratio is 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.