Marathon Asset Management Ltd Cuts Stock Holdings in Bank of Nova Scotia (The) (NYSE:BNS)

Marathon Asset Management Ltd trimmed its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 2.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 886,594 shares of the bank's stock after selling 22,321 shares during the quarter. Bank of Nova Scotia makes up 1.3% of Marathon Asset Management Ltd's holdings, making the stock its 27th biggest holding. Marathon Asset Management Ltd owned about 0.07% of Bank of Nova Scotia worth $42,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in BNS. Murphy & Mullick Capital Management Corp bought a new stake in Bank of Nova Scotia in the fourth quarter worth approximately $25,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Bank of Nova Scotia in the fourth quarter worth approximately $31,000. Compagnie Lombard Odier SCmA bought a new stake in Bank of Nova Scotia in the first quarter worth approximately $52,000. Independence Bank of Kentucky increased 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 purchasing an additional 326 shares in the last quarter. Finally, Atlas Capital Advisors Inc. bought a new stake in Bank of Nova Scotia in the fourth quarter worth approximately $83,000. 49.13% of the stock is currently owned by institutional investors.

Bank of Nova Scotia Stock Down 0.4%

Bank of Nova Scotia stock traded down $0.25 during mid-day trading on Friday, reaching $54.86. The stock had a trading volume of 4,053,743 shares, compared to its average volume of 1,743,819. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.03 and a current ratio of 1.03. Bank of Nova Scotia has a fifty-two week low of $43.68 and a fifty-two week high of $57.07. The stock's 50-day simple moving average is $52.04 and its 200-day simple moving average is $50.84. The firm has a market capitalization of $68.33 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 1.38 and a beta of 1.13.

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 EPS for the quarter, missing analysts' consensus estimates of $1.14 by ($0.08). Bank of Nova Scotia had a net margin of 8.83% and a return on equity of 11.27%. The firm had revenue of $6.59 billion during the quarter, compared to analyst estimates of $8.98 billion. During the same period last year, the business posted $1.58 EPS. The company's revenue was up 8.8% on a year-over-year basis. On average, sell-side analysts forecast that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Bank of Nova Scotia Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 2nd will be paid a $0.7996 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 5.83%. The ex-dividend date is Wednesday, July 2nd. This is a boost from Bank of Nova Scotia's previous quarterly dividend of $0.74. Bank of Nova Scotia's dividend payout ratio (DPR) is 86.51%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BNS. Bank of America downgraded Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a report on Monday, March 31st. Wall Street Zen downgraded Bank of Nova Scotia from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $81.00.

Bank of Nova Scotia Company 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.