Ritholtz Wealth Management Sells 5,082 Shares of Bank of Nova Scotia (The) (NYSE:BNS)

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

A number of other hedge funds have also recently modified their holdings of BNS. Private Advisor Group LLC boosted its position in shares of Bank of Nova Scotia by 3.5% in the fourth quarter. Private Advisor Group LLC now owns 6,248 shares of the bank's stock worth $336,000 after purchasing an additional 211 shares during the period. Moran Wealth Management LLC lifted its stake in shares of Bank of Nova Scotia by 6.5% during the 4th quarter. Moran Wealth Management LLC now owns 3,925 shares of the bank's stock valued at $211,000 after buying an additional 240 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Bank of Nova Scotia by 4.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,399 shares of the bank's stock worth $290,000 after buying an additional 248 shares during the period. Lindbrook Capital LLC increased its stake in Bank of Nova Scotia by 10.2% in the 4th quarter. Lindbrook Capital LLC now owns 2,860 shares of the bank's stock worth $154,000 after buying an additional 264 shares in the last quarter. Finally, Sara Bay Financial raised its holdings in Bank of Nova Scotia by 6.2% during the first quarter. Sara Bay Financial now owns 5,021 shares of the bank's stock valued at $240,000 after acquiring an additional 294 shares during the period. Institutional investors own 49.13% of the company's stock.

Bank of Nova Scotia Price Performance

Bank of Nova Scotia stock traded down $0.02 during midday trading on Monday, reaching $54.15. 1,581,940 shares of the stock traded hands, compared to its average volume of 1,727,667. The stock has a market cap of $67.46 billion, a P/E ratio of 11.73, a PEG ratio of 1.36 and a beta of 1.13. The stock's fifty day moving average is $51.30 and its 200-day moving average is $50.85. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.62. 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 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 firm had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $8.98 billion. During the same quarter in the prior year, the company posted $1.58 earnings per share. The firm's revenue was up 8.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Bank of Nova Scotia will post 4.91 EPS for the current year.

Bank of Nova Scotia Increases Dividend

The firm 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 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 dividend yield of 5.91%. The ex-dividend date is Wednesday, July 2nd. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 86.51%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BNS. Bank of America lowered Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research note on Monday, March 31st. Wall Street Zen downgraded Bank of Nova Scotia from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Royal Bank Of Canada reduced 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently 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.