Davis Rea LTD. bought a new stake in Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 95,467 shares of the bank's stock, valued at approximately $4,528,000.
A number of other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its holdings in shares of Bank of Nova Scotia by 4.3% in the first quarter. Janney Montgomery Scott LLC now owns 10,801 shares of the bank's stock valued at $512,000 after purchasing an additional 442 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Bank of Nova Scotia by 5.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,155,791 shares of the bank's stock valued at $54,819,000 after buying an additional 60,506 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Bank of Nova Scotia by 3.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,938 shares of the bank's stock valued at $709,000 after buying an additional 466 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Bank of Nova Scotia by 54.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,629 shares of the bank's stock valued at $1,216,000 after acquiring an additional 8,018 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in Bank of Nova Scotia by 11.8% in the 4th quarter. HighTower Advisors LLC now owns 11,438 shares of the bank's stock valued at $614,000 after acquiring an additional 1,207 shares in the last quarter. Institutional investors own 49.13% of the company's stock.
Analysts Set New Price Targets
BNS has been the topic of several research reports. Wall Street Zen cut shares of Bank of Nova Scotia from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Bank of America cut shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Bank of Nova Scotia presently has an average rating of "Hold" and an average price target of $81.00.
View Our Latest Report on BNS
Bank of Nova Scotia Stock Performance
Shares of BNS stock traded down $0.08 on Friday, reaching $56.63. The stock had a trading volume of 872,149 shares, compared to its average volume of 2,326,730. 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 firm's 50-day moving average is $54.25 and its two-hundred day moving average is $51.06. The firm has a market capitalization of $70.41 billion, a price-to-earnings ratio of 16.61, a P/E/G ratio of 1.43 and a beta of 1.12. Bank of Nova Scotia has a 12 month low of $43.67 and a 12 month high of $57.07.
Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last released its quarterly earnings results on Tuesday, May 27th. The bank reported $1.06 earnings per share for the quarter, missing the consensus estimate 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 was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.58 earnings per share. On average, research analysts expect that Bank of Nova Scotia will post 4.91 EPS 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. Shareholders of record on Wednesday, July 2nd will be issued a $0.7996 dividend. 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 yield of 5.65%. The ex-dividend date of this dividend is Wednesday, July 2nd. Bank of Nova Scotia's dividend payout ratio is currently 94.72%.
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.
Further Reading
Before you consider Bank of Nova Scotia, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bank of Nova Scotia wasn't on the list.
While Bank of Nova Scotia currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
