Bank of Nova Scotia (The) (NYSE:BNS) Shares Bought by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Bank of Nova Scotia by 1.5%, acquiring an additional 57,145 shares, bringing its total holding to approximately 3.88 million shares valued at around $183.82 million.
• The Bank of Nova Scotia reported earnings of $1.06 per share, missing the consensus estimate, while its revenue for the last quarter was $6.59 billion, significantly below the expected $8.98 billion.
• The bank recently raised its quarterly dividend from $0.74 to $0.7996, representing a yield of 5.7%, with a payout ratio currently at 94.72%.

Charles Schwab Investment Management Inc. grew its position in Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 1.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,877,489 shares of the bank's stock after acquiring an additional 57,145 shares during the period. Charles Schwab Investment Management Inc. owned about 0.31% of Bank of Nova Scotia worth $183,820,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Compagnie Lombard Odier SCmA purchased a new stake in Bank of Nova Scotia during the 1st quarter valued at about $52,000. Independence Bank of Kentucky grew 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 valued at $56,000 after buying an additional 326 shares during the period. North Capital Inc. purchased a new stake in shares of Bank of Nova Scotia in the 1st quarter valued at approximately $81,000. Dunhill Financial LLC purchased a new stake in shares of Bank of Nova Scotia in the 4th quarter valued at approximately $95,000. Finally, JCIC Asset Management Inc. purchased a new stake in shares of Bank of Nova Scotia in the 1st quarter valued at approximately $174,000. Institutional investors and hedge funds own 49.13% of the company's stock.

Bank of Nova Scotia Trading Up 0.6%

Shares of NYSE:BNS traded up $0.34 during trading on Tuesday, reaching $56.40. The stock had a trading volume of 1,162,717 shares, compared to its average volume of 1,533,106. The business has a fifty day moving average price of $55.01 and a 200-day moving average price of $51.40. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.62. The stock has a market cap of $70.12 billion, a P/E ratio of 16.54, a PEG ratio of 1.41 and a beta of 1.14. Bank of Nova Scotia has a fifty-two week low of $44.09 and a fifty-two week high of $57.07.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last released its quarterly earnings data 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). Bank of Nova Scotia had a return on equity of 11.27% and a net margin of 8.83%. The business had revenue of $6.59 billion for the quarter, compared to analysts' expectations of $8.98 billion. During the same quarter in the prior year, the firm earned $1.58 earnings per share. Bank of Nova Scotia's quarterly revenue was up 8.8% compared to the same quarter last year. As a group, analysts anticipate 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 disclosed a quarterly dividend, which was paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 2nd were paid a dividend of $0.7996 per share. This is a positive change from Bank of Nova Scotia's previous quarterly dividend of $0.74. The ex-dividend date was Wednesday, July 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 5.7%. Bank of Nova Scotia's payout ratio is currently 94.72%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Bank of Nova Scotia from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Bank of Nova Scotia has an average rating of "Hold" and an average target price of $81.00.

Bank of Nova Scotia Company 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.