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Ritholtz Wealth Management Lowers Holdings in Bank of Nova Scotia (The) (NYSE:BNS)

Bank of Nova Scotia logo with Finance background

Ritholtz Wealth Management cut its position in shares of Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 53.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,369 shares of the bank's stock after selling 5,082 shares during the quarter. Ritholtz Wealth Management's holdings in Bank of Nova Scotia were worth $207,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in 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 period. Toronto Dominion Bank lifted its stake in shares of Bank of Nova Scotia by 1.7% in the 4th quarter. Toronto Dominion Bank now owns 25,425,639 shares of the bank's stock valued at $1,363,619,000 after acquiring an additional 434,771 shares during the last quarter. TD Asset Management Inc. boosted its holdings in Bank of Nova Scotia by 1.7% during the 4th quarter. TD Asset Management Inc. now owns 18,966,078 shares of the bank's stock valued at $1,017,933,000 after acquiring an additional 308,837 shares during the period. Norges Bank bought a new position in Bank of Nova Scotia during the 4th quarter worth approximately $690,746,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Bank of Nova Scotia by 5.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,096,123 shares of the bank's stock worth $434,196,000 after acquiring an additional 385,333 shares during the last quarter. 49.13% of the stock is owned by hedge funds and other institutional investors.

Bank of Nova Scotia Trading Down 0.2%

Shares of Bank of Nova Scotia stock traded down $0.11 during midday trading on Wednesday, reaching $54.24. 2,712,364 shares of the company's stock traded hands, compared to its average volume of 1,733,365. The company has a market cap of $67.56 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 1.36 and a beta of 1.13. The stock has a 50 day moving average of $51.59 and a 200-day moving average of $50.86. Bank of Nova Scotia has a 12 month low of $43.68 and a 12 month high of $57.07. 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 (NYSE:BNS - Get Free Report) TSE: BNS last issued its quarterly earnings data on Tuesday, May 27th. The bank reported $1.06 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.08). Bank of Nova Scotia had a return on equity of 11.27% and a net margin of 8.83%. The company had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $8.98 billion. During the same quarter last year, the company posted $1.58 earnings per share. The firm's revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, equities analysts expect that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Bank of Nova Scotia Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Investors of record on Wednesday, July 2nd will be paid a $0.7996 dividend. This is an increase 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 5.90%. The ex-dividend date of this dividend is Wednesday, July 2nd. Bank of Nova Scotia's dividend payout ratio is presently 86.51%.

Wall Street Analysts Forecast Growth

BNS has been the subject of a number of analyst reports. Royal Bank Of Canada dropped 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 research note on Wednesday, February 26th. Bank of America cut shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday, March 31st. Finally, Wall Street Zen lowered shares of Bank of Nova Scotia from a "hold" rating to a "sell" rating in a report on Saturday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $81.00.

Check Out Our Latest Research Report on BNS

Bank of Nova Scotia Company Profile

(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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Institutional Ownership by Quarter for Bank of Nova Scotia (NYSE:BNS)

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