MQS Management LLC Takes Position in Bank of Nova Scotia (The) (NYSE:BNS)

MQS Management LLC bought a new position in shares of Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 18,055 shares of the bank's stock, valued at approximately $856,000. Bank of Nova Scotia accounts for approximately 0.5% of MQS Management LLC's holdings, making the stock its 27th largest holding.

Several other hedge funds have also added to or reduced their stakes in the business. Murphy & Mullick Capital Management Corp acquired a new position in shares of Bank of Nova Scotia during the 4th quarter valued at $25,000. Compagnie Lombard Odier SCmA purchased a new stake in Bank of Nova Scotia during the first quarter valued at about $52,000. Independence Bank of Kentucky lifted its holdings in Bank of Nova Scotia by 38.4% during the first quarter. Independence Bank of Kentucky now owns 1,175 shares of the bank's stock valued at $56,000 after purchasing an additional 326 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new stake in Bank of Nova Scotia during the fourth quarter valued at about $83,000. Finally, North Capital Inc. purchased a new stake in Bank of Nova Scotia during the first quarter valued at about $81,000. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Price Performance

Shares of BNS stock traded down $0.10 during trading on Monday, hitting $54.46. The company had a trading volume of 267,601 shares, compared to its average volume of 2,064,940. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.62. The stock's 50-day moving average is $53.24 and its two-hundred day moving average is $50.88. The stock has a market capitalization of $67.70 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. Bank of Nova Scotia has a 52 week low of $43.67 and a 52 week high of $57.07.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last issued its quarterly earnings results 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 business had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $8.98 billion. During the same quarter in the previous year, the business earned $1.58 earnings per share. The firm's revenue was up 8.8% on a year-over-year basis. As a group, analysts predict that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Bank of Nova Scotia Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 2nd will be given a dividend of $0.7996 per share. This is a boost from Bank of Nova Scotia's previous quarterly dividend of $0.74. This represents a $3.20 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date is Wednesday, July 2nd. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 94.72%.

Analysts Set New Price Targets

Several research firms have commented on BNS. Bank of America downgraded shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a report on Monday, March 31st. Wall Street Zen downgraded shares of 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 given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $81.00.

About Bank of Nova Scotia

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.