Value Partners Investments Inc. increased its stake in Bank of Nova Scotia (The) (NYSE:BNS - Free Report) TSE: BNS by 907.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,124,324 shares of the bank's stock after buying an additional 1,012,715 shares during the period. Bank of Nova Scotia accounts for about 4.6% of Value Partners Investments Inc.'s portfolio, making the stock its 8th largest position. Value Partners Investments Inc. owned 0.09% of Bank of Nova Scotia worth $53,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently added to or reduced their stakes in BNS. Murphy & Mullick Capital Management Corp bought a new stake in shares of Bank of Nova Scotia in the 4th quarter valued at about $25,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Bank of Nova Scotia in the 4th quarter valued at about $31,000. Allworth Financial LP raised its holdings in shares of Bank of Nova Scotia by 121.1% in the 4th quarter. Allworth Financial LP now owns 639 shares of the bank's stock valued at $33,000 after purchasing an additional 350 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new stake in shares of Bank of Nova Scotia in the 1st quarter valued at about $52,000. Finally, Independence Bank of Kentucky raised its stake in shares of Bank of Nova Scotia by 38.4% during the 1st quarter. Independence Bank of Kentucky now owns 1,175 shares of the bank's stock worth $56,000 after acquiring an additional 326 shares in the last quarter. Hedge funds and other institutional investors own 49.13% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have issued reports on BNS. Bank of America lowered shares of Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a report on Monday, March 31st. Wall Street Zen lowered 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 issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $81.00.
Read Our Latest Analysis on Bank of Nova Scotia
Bank of Nova Scotia Stock Performance
NYSE:BNS traded down $0.25 during trading hours on Friday, hitting $54.86. 4,053,743 shares of the company were exchanged, compared to its average volume of 1,743,819. The stock has a market capitalization of $68.33 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 1.38 and a beta of 1.13. Bank of Nova Scotia has a 52-week low of $43.68 and a 52-week high of $57.07. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.03. The company's 50 day moving average price is $52.04 and its 200-day moving average price is $50.81.
Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last released its earnings results on Tuesday, May 27th. The bank reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.08). The company had revenue of $6.59 billion for the quarter, compared to analysts' expectations of $8.98 billion. Bank of Nova Scotia had a return on equity of 11.27% and a net margin of 8.83%. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.58 EPS. As a group, research analysts forecast that Bank of Nova Scotia will post 4.91 earnings per share for the current year.
Bank of Nova Scotia Increases Dividend
The business also recently announced 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 represents a $3.20 annualized dividend and a yield of 5.83%. The ex-dividend date of this dividend 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 payout ratio is currently 86.51%.
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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