Deutsche Bank AG Acquires 87,029 Shares of Bank of Nova Scotia (The) (NYSE:BNS)

Key Points

• Deutsche Bank AG increased its stake in Bank of Nova Scotia by 5.1%, accumulating an additional 87,029 shares, bringing its total ownership to 1,805,936 shares valued at approximately $85.7 million.
• Bank of Nova Scotia recently reported earnings of $1.06 EPS for the quarter, missing estimates by $0.08, despite an 8.8% annual increase in revenue.
• The bank has declared a quarterly dividend of $0.7996 per share, a raise from the previous amount, which corresponds to an annualized yield of 5.7%.

Deutsche Bank AG increased its holdings in Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 5.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,805,936 shares of the bank's stock after purchasing an additional 87,029 shares during the quarter. Deutsche Bank AG owned approximately 0.14% of Bank of Nova Scotia worth $85,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Compagnie Lombard Odier SCmA purchased a new stake in Bank of Nova Scotia in the first quarter worth about $52,000. Independence Bank of Kentucky lifted 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 buying an additional 326 shares during the period. North Capital Inc. purchased a new stake in Bank of Nova Scotia in the first quarter worth about $81,000. Dunhill Financial LLC purchased a new stake in Bank of Nova Scotia in the fourth quarter worth about $95,000. Finally, JCIC Asset Management Inc. purchased a new stake in Bank of Nova Scotia in the first quarter worth about $174,000. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Stock Up 0.4%

NYSE BNS traded up $0.23 during mid-day trading on Wednesday, reaching $56.64. The stock had a trading volume of 1,711,911 shares, compared to its average volume of 1,998,597. Bank of Nova Scotia has a 1 year low of $44.09 and a 1 year high of $57.07. The stock has a market cap of $70.41 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 1.41 and a beta of 1.14. The company has a fifty day moving average price of $55.08 and a 200 day moving average price of $51.43. 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 (NYSE:BNS - Get Free Report) TSE: BNS last announced its quarterly earnings data 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). Bank of Nova Scotia had a return on equity of 11.27% and a net margin of 8.83%. The firm had revenue of $6.59 billion during the quarter, compared to analysts' expectations of $8.98 billion. During the same quarter in the previous year, the firm earned $1.58 earnings per share. Bank of Nova Scotia's revenue was up 8.8% on a year-over-year basis. On average, research analysts expect that Bank of Nova Scotia will post 4.91 earnings per share for the current year.

Bank of Nova Scotia Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 2nd were given a $0.7996 dividend. 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 dividend on an annualized basis and a yield of 5.6%. Bank of Nova Scotia's payout ratio is presently 94.72%.

Analyst Ratings Changes

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 analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus 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.