The Bank of Nova Scotia (NYSE:BNS) Sees Significant Increase in Short Interest

The Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 30,220,000 shares, a growth of 18.3% from the March 15th total of 25,550,000 shares. Currently, 2.5% of the company's stock are sold short. Based on an average daily volume of 2,070,000 shares, the short-interest ratio is currently 14.6 days.

Institutional Investors Weigh In On Bank of Nova Scotia

A number of large investors have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. boosted its position in shares of Bank of Nova Scotia by 59.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 26,438 shares of the bank's stock valued at $1,896,000 after acquiring an additional 9,818 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Bank of Nova Scotia by 2.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,359 shares of the bank's stock worth $1,317,000 after purchasing an additional 475 shares during the period. Cetera Advisor Networks LLC acquired a new stake in shares of Bank of Nova Scotia in the first quarter valued at approximately $366,000. Private Advisor Group LLC boosted its stake in shares of Bank of Nova Scotia by 56.3% in the first quarter. Private Advisor Group LLC now owns 7,272 shares of the bank's stock valued at $522,000 after buying an additional 2,619 shares during the period. Finally, BlackRock Inc. grew its position in Bank of Nova Scotia by 10.3% during the first quarter. BlackRock Inc. now owns 870,918 shares of the bank's stock worth $62,462,000 after buying an additional 81,002 shares in the last quarter. Institutional investors own 49.13% of the company's stock.

Bank of Nova Scotia Stock Down 1.6 %

NYSE BNS traded down $0.78 during trading hours on Friday, hitting $48.19. 3,309,737 shares of the company traded hands, compared to its average volume of 1,916,460. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.03 and a current ratio of 1.03. The business's 50-day moving average is $48.93 and its 200-day moving average is $46.29. The stock has a market capitalization of $58.90 billion, a price-to-earnings ratio of 10.66, a P/E/G ratio of 1.60 and a beta of 1.04. Bank of Nova Scotia has a twelve month low of $39.79 and a twelve month high of $51.98.

Bank of Nova Scotia (NYSE:BNS - Get Free Report) TSE: BNS last released its earnings results on Tuesday, February 27th. The bank reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.06. The business had revenue of $14.13 billion during the quarter, compared to analysts' expectations of $6.01 billion. Bank of Nova Scotia had a net margin of 10.71% and a return on equity of 11.51%. During the same period last year, the business earned $1.37 earnings per share. Sell-side analysts anticipate that Bank of Nova Scotia will post 4.9 earnings per share for the current year.

Bank of Nova Scotia Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Tuesday, April 2nd will be paid a $0.7843 dividend. This is a positive change from Bank of Nova Scotia's previous quarterly dividend of $0.78. The ex-dividend date is Monday, April 1st. This represents a $3.14 annualized dividend and a yield of 6.51%. Bank of Nova Scotia's dividend payout ratio is currently 34.96%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Barclays initiated coverage on shares of Bank of Nova Scotia in a research note on Wednesday, March 20th. They issued an "underweight" rating and a $70.00 target price for the company. Jefferies Financial Group began coverage on Bank of Nova Scotia in a research note on Thursday, February 22nd. They issued a "hold" rating on the stock. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $68.00.

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.