Forum Financial Management LP boosted its stake in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 50.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,483 shares of the bank's stock after acquiring an additional 5,180 shares during the quarter. Forum Financial Management LP's holdings in Bank of Nova Scotia were worth $832,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vise Technologies Inc. boosted its holdings in Bank of Nova Scotia by 7.3% in the 4th quarter. Vise Technologies Inc. now owns 17,905 shares of the bank's stock worth $962,000 after acquiring an additional 1,214 shares during the period. Retirement Planning Group LLC boosted its stake in shares of Bank of Nova Scotia by 6.8% during the 4th quarter. Retirement Planning Group LLC now owns 13,918 shares of the bank's stock valued at $748,000 after buying an additional 881 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new position in shares of Bank of Nova Scotia during the 4th quarter valued at approximately $96,529,000. Vident Advisory LLC boosted its stake in shares of Bank of Nova Scotia by 8.3% during the 4th quarter. Vident Advisory LLC now owns 4,648 shares of the bank's stock valued at $250,000 after buying an additional 358 shares during the last quarter. Finally, Twinbeech Capital LP purchased a new position in shares of Bank of Nova Scotia during the 4th quarter valued at approximately $520,000. Hedge funds and other institutional investors own 49.13% of the company's stock.
Bank of Nova Scotia Stock Performance
Shares of BNS stock traded up $0.36 on Friday, hitting $53.62. 617,879 shares of the stock traded hands, compared to its average volume of 1,704,555. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $66.79 billion, a PE ratio of 12.41, a PEG ratio of 1.16 and a beta of 1.11. The Bank of Nova Scotia has a 1-year low of $43.68 and a 1-year high of $57.07. The company's fifty day moving average is $49.00 and its 200 day moving average is $51.10.
Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last posted its quarterly 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). Bank of Nova Scotia had a net margin of 10.20% and a return on equity of 11.56%. The firm had revenue of $6.59 billion for the quarter, compared to analyst estimates of $8.98 billion. During the same period in the prior year, the company posted $1.58 earnings per share. The business's revenue was up 8.8% on a year-over-year basis. On average, equities research 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. Shareholders of record on Wednesday, July 2nd will be given a $0.7996 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This is a positive change from Bank of Nova Scotia's previous quarterly dividend of $0.74. This represents a $3.20 annualized dividend and a yield of 5.96%. Bank of Nova Scotia's dividend payout ratio (DPR) is currently 89.44%.
Wall Street Analysts Forecast Growth
BNS has been the subject of several research analyst reports. Royal Bank of Canada reduced their target price on Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 26th. CIBC reiterated a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Bank of America cut Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research note on Monday, March 31st. Finally, Cibc World Mkts lowered Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $81.00.
View Our Latest Report on BNS
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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