Unigestion Holding SA decreased its position in shares of The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 11.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,887 shares of the bank's stock after selling 18,636 shares during the period. Unigestion Holding SA's holdings in Bank of Nova Scotia were worth $6,634,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in shares of Bank of Nova Scotia by 7.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,095,285 shares of the bank's stock worth $58,839,000 after purchasing an additional 77,820 shares in the last quarter. Mediolanum International Funds Ltd acquired a new stake in Bank of Nova Scotia during the 4th quarter worth approximately $292,000. Blue Trust Inc. boosted its position in Bank of Nova Scotia by 98.6% in the 4th quarter. Blue Trust Inc. now owns 3,134 shares of the bank's stock valued at $171,000 after buying an additional 1,556 shares during the period. HighTower Advisors LLC boosted its position in Bank of Nova Scotia by 11.8% in the 4th quarter. HighTower Advisors LLC now owns 11,438 shares of the bank's stock valued at $614,000 after buying an additional 1,207 shares during the period. Finally, Savant Capital LLC acquired a new position in shares of Bank of Nova Scotia in the fourth quarter worth $219,000. 49.13% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts recently commented on the company. CIBC reissued a "neutral" rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Royal Bank of Canada lowered 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 report on Wednesday, February 26th. Cibc World Mkts cut shares of Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Wall Street Zen upgraded shares of Bank of Nova Scotia from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Finally, Bank of America downgraded shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a research report on Monday, March 31st. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $81.00.
Check Out Our Latest Stock Analysis on Bank of Nova Scotia
Bank of Nova Scotia Stock Up 0.4%
Bank of Nova Scotia stock traded up $0.19 during mid-day trading on Thursday, hitting $53.62. The company had a trading volume of 1,239,433 shares, compared to its average volume of 1,696,098. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The Bank of Nova Scotia has a 1 year low of $43.68 and a 1 year high of $57.07. The business has a fifty day moving average of $49.41 and a 200 day moving average of $51.09. The stock has a market cap of $66.79 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 1.16 and a beta of 1.13.
Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last issued its earnings results on Tuesday, May 27th. The bank reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.08). Bank of Nova Scotia had a net margin of 10.20% and a return on equity of 11.56%. The company had revenue of $6.59 billion during the quarter, compared to analyst estimates of $8.98 billion. During the same quarter in the previous year, the company posted $1.58 EPS. The company's quarterly revenue was up 8.8% on a year-over-year basis. On average, sell-side analysts expect 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 business 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 annualized dividend and a yield of 5.96%. The ex-dividend date is Wednesday, July 2nd. This is an increase from Bank of Nova Scotia's previous quarterly dividend of $0.74. Bank of Nova Scotia's dividend payout ratio is currently 89.44%.
About Bank of Nova Scotia
(
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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