The Bank of Nova Scotia (NYSE:BNS) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its stake in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 54.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,629 shares of the bank's stock after purchasing an additional 8,018 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Bank of Nova Scotia were worth $1,216,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Murphy & Mullick Capital Management Corp bought a new stake in Bank of Nova Scotia in the fourth quarter valued at $25,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Bank of Nova Scotia in the 4th quarter worth approximately $31,000. Allworth Financial LP raised its position in shares of Bank of Nova Scotia by 121.1% in the fourth quarter. Allworth Financial LP now owns 639 shares of the bank's stock valued at $33,000 after purchasing an additional 350 shares during the period. Atlas Capital Advisors Inc. purchased a new position in shares of Bank of Nova Scotia in the fourth quarter valued at $83,000. Finally, Dunhill Financial LLC bought a new position in shares of Bank of Nova Scotia in the fourth quarter worth $95,000. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BNS. Bank of America lowered shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday, March 31st. CIBC reiterated a "neutral" rating on shares of Bank of Nova Scotia in a research note 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 note on Friday, May 30th. Royal Bank of Canada dropped their price target on shares of 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. Finally, Cibc World Mkts lowered shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Bank of Nova Scotia presently has a consensus rating of "Hold" and a consensus price target of $81.00.

Bank of Nova Scotia Stock Performance

Shares of BNS stock traded up $0.00 during trading hours on Tuesday, hitting $54.07. The stock had a trading volume of 4,314,333 shares, compared to its average volume of 1,706,958. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $67.35 billion, a PE ratio of 12.52, a PEG ratio of 1.16 and a beta of 1.13. The stock's 50 day moving average is $49.80 and its 200 day moving average is $50.97. The Bank of Nova Scotia has a twelve month low of $43.68 and a twelve month 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.14 by ($0.08). The firm 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 company's revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.58 earnings per share. As a group, research analysts forecast that The Bank of Nova Scotia will post 4.91 earnings per share 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. Investors of record on Wednesday, July 2nd will be paid a $0.7996 dividend. The ex-dividend date is Wednesday, July 2nd. 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 dividend yield of 5.92%. Bank of Nova Scotia's payout ratio is 93.84%.

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.