Veriti Management LLC lifted its stake in shares of The Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) by 3.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,137 shares of the bank's stock after buying an additional 342 shares during the quarter. Veriti Management LLC's holdings in Bank of Nova Scotia were worth $600,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of BNS. BNP Paribas Arbitrage SA lifted its position in shares of Bank of Nova Scotia by 19.8% during the 4th quarter. BNP Paribas Arbitrage SA now owns 7,307 shares of the bank's stock worth $524,000 after buying an additional 1,208 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Bank of Nova Scotia by 20.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,530 shares of the bank's stock worth $324,000 after buying an additional 773 shares during the last quarter. Mutual Advisors LLC purchased a new stake in shares of Bank of Nova Scotia during the 4th quarter worth approximately $218,000. Lombard Odier Asset Management Switzerland SA purchased a new stake in shares of Bank of Nova Scotia during the 4th quarter worth approximately $667,000. Finally, Wetherby Asset Management Inc. raised its position in Bank of Nova Scotia by 10.4% in the 4th quarter. Wetherby Asset Management Inc. now owns 19,832 shares of the bank's stock valued at $1,422,000 after purchasing an additional 1,871 shares during the last quarter. Hedge funds and other institutional investors own 45.43% of the company's stock.
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Bank of Nova Scotia Stock Performance
NYSE:BNS opened at $48.64 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.47. The Bank of Nova Scotia has a fifty-two week low of $48.41 and a fifty-two week high of $74.86. The stock has a market cap of $57.95 billion, a PE ratio of 7.39, a price-to-earnings-growth ratio of 1.49 and a beta of 0.96. The firm's fifty day simple moving average is $57.60 and its 200-day simple moving average is $62.53.
Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) last posted its quarterly earnings results on Tuesday, August 23rd. The bank reported $1.63 earnings per share for the quarter, hitting analysts' consensus estimates of $1.63. Bank of Nova Scotia had a net
margin of 24.43% and a return on equity of 15.73%. The business had revenue of $6.06 billion for the quarter, compared to analysts' expectations of $6.25 billion. Analysts expect that The Bank of Nova Scotia will post 6.51 earnings per share for the current fiscal year.
Bank of Nova Scotia Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 27th. Stockholders of record on Tuesday, October 4th will be paid a dividend of $0.7897 per share. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 6.49%. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 48.63%.
Wall Street Analysts Forecast Growth
Several analysts recently commented on BNS shares. Canaccord Genuity Group reduced their price target on shares of Bank of Nova Scotia from C$92.00 to C$89.00 and set a "buy" rating for the company in a research report on Thursday, August 18th. Royal Bank of Canada downgraded shares of Bank of Nova Scotia from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, August 24th. National Bank Financial reduced their price target on shares of Bank of Nova Scotia from C$91.00 to C$90.00 in a research report on Tuesday, August 16th. CIBC reduced their price target on shares of Bank of Nova Scotia from C$88.00 to C$87.00 in a research report on Tuesday, August 16th. Finally, TD Securities reduced their price target on shares of Bank of Nova Scotia from C$84.00 to C$83.00 in a research report on Wednesday, August 24th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Bank of Nova Scotia has an average rating of "Hold" and an average target price of $91.33.
About Bank of Nova Scotia
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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 in four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.
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