Eldred Rock Partners LLC lifted its stake in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 33.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 206,876 shares of the bank's stock after purchasing an additional 51,409 shares during the quarter. Bank of Nova Scotia accounts for about 3.0% of Eldred Rock Partners LLC's holdings, making the stock its 20th largest position. Eldred Rock Partners LLC's holdings in Bank of Nova Scotia were worth $9,828,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC grew its position in Bank of Nova Scotia by 27.5% during the third quarter. Barclays PLC now owns 214,957 shares of the bank's stock worth $11,712,000 after buying an additional 46,421 shares in the last quarter. Blue Trust Inc. grew its position in Bank of Nova Scotia by 98.6% during the fourth quarter. Blue Trust Inc. now owns 3,134 shares of the bank's stock worth $171,000 after buying an additional 1,556 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in Bank of Nova Scotia during the fourth quarter worth about $292,000. Five Oceans Advisors grew its position in Bank of Nova Scotia by 13.8% during the fourth quarter. Five Oceans Advisors now owns 4,330 shares of the bank's stock worth $233,000 after buying an additional 525 shares in the last quarter. Finally, Silverlake Wealth Management LLC grew its position in Bank of Nova Scotia by 6.6% during the fourth quarter. Silverlake Wealth Management LLC now owns 8,504 shares of the bank's stock worth $457,000 after buying an additional 528 shares in the last quarter. 49.13% of the stock is currently owned by institutional investors.
Bank of Nova Scotia Trading Up 0.6%
BNS stock traded up $0.34 during trading on Thursday, hitting $53.77. 528,440 shares of the company traded hands, compared to its average volume of 1,693,505. The firm has a market capitalization of $66.97 billion, a PE ratio of 12.45, a P/E/G ratio of 1.16 and a beta of 1.13. The Bank of Nova Scotia has a 1 year low of $43.68 and a 1 year high of $57.07. The company has a 50-day moving average of $49.41 and a 200-day moving average of $51.09. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03.
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 for the quarter, missing the consensus estimate of $1.14 by ($0.08). The company had revenue of $6.59 billion for the quarter, compared to analysts' expectations of $8.98 billion. Bank of Nova Scotia had a net margin of 10.20% and a return on equity of 11.56%. The company's revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.58 earnings per share. Analysts predict that The 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 announced a quarterly dividend, which will be paid on Tuesday, July 29th. Investors of record on Wednesday, July 2nd will be issued a dividend of $0.7996 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. 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 5.95%. Bank of Nova Scotia's dividend payout ratio is currently 89.44%.
Wall Street Analysts Forecast Growth
BNS has been the subject of several recent analyst reports. Wall Street Zen upgraded Bank of Nova Scotia from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. CIBC reiterated a "neutral" rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Bank of America cut Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a report on Monday, March 31st. Cibc World Mkts cut Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, Royal Bank of Canada cut their price objective on Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating for the company in a report on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Bank of Nova Scotia currently has a consensus rating of "Hold" and a consensus target price of $81.00.
View Our Latest Stock Report on Bank of Nova Scotia
Bank of Nova Scotia Company Profile
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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.
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