The Bank of Nova Scotia (NYSE:BNS) Shares Acquired by Keystone Financial Planning Inc.

Keystone Financial Planning Inc. boosted its stake in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 4.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 138,907 shares of the bank's stock after buying an additional 5,503 shares during the period. Bank of Nova Scotia accounts for approximately 2.0% of Keystone Financial Planning Inc.'s portfolio, making the stock its 13th largest position. Keystone Financial Planning Inc.'s holdings in Bank of Nova Scotia were worth $6,588,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new stake in Bank of Nova Scotia in the fourth quarter worth about $690,746,000. Zurich Insurance Group Ltd FI purchased a new stake in shares of Bank of Nova Scotia during the fourth quarter valued at approximately $96,529,000. Geode Capital Management LLC grew its holdings in shares of Bank of Nova Scotia by 31.8% during the fourth quarter. Geode Capital Management LLC now owns 7,433,171 shares of the bank's stock valued at $406,103,000 after buying an additional 1,792,700 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Bank of Nova Scotia by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 51,363,146 shares of the bank's stock valued at $2,758,150,000 after buying an additional 969,488 shares during the last quarter. Finally, FIL Ltd grew its holdings in shares of Bank of Nova Scotia by 37.8% during the fourth quarter. FIL Ltd now owns 2,582,696 shares of the bank's stock valued at $138,689,000 after buying an additional 708,999 shares during the last quarter. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on BNS shares. CIBC reiterated a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Wall Street Zen upgraded shares of Bank of Nova Scotia from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Bank of America downgraded shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday, March 31st. Royal Bank of Canada decreased their price objective on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 26th. Finally, Cibc World Mkts downgraded shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $81.00.

Bank of Nova Scotia Stock Performance

Shares of BNS stock traded up $0.32 during trading hours on Thursday, hitting $53.75. The company's stock had a trading volume of 603,613 shares, compared to its average volume of 1,693,708. The company has a 50 day moving average of $49.41 and a 200 day moving average of $51.09. The stock has a market cap of $66.95 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 1.16 and a beta of 1.13. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The Bank of Nova Scotia has a 12-month low of $43.68 and a 12-month high of $57.07.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last posted 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). The company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $8.98 billion. Bank of Nova Scotia had a return on equity of 11.56% and a net margin of 10.20%. The business's revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.58 earnings per share. On average, sell-side analysts forecast that The Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Bank of Nova Scotia Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 2nd will be given a $0.7996 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 5.95%. This is a boost from Bank of Nova Scotia's previous quarterly dividend of $0.74. The ex-dividend date is Wednesday, July 2nd. Bank of Nova Scotia's dividend payout ratio is 89.44%.

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.