MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lowered its holdings in The Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) by 65.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,921 shares of the bank's stock after selling 56,617 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Bank of Nova Scotia were worth $1,767,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of BNS. GPS Wealth Strategies Group LLC raised its stake in shares of Bank of Nova Scotia by 344.8% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the bank's stock worth $38,000 after acquiring an additional 500 shares in the last quarter. Brinker Capital Investments LLC boosted its holdings in shares of Bank of Nova Scotia by 21.5% in the 2nd quarter. Brinker Capital Investments LLC now owns 9,582 shares of the bank's stock valued at $567,000 after acquiring an additional 1,695 shares during the last quarter. Veriti Management LLC lifted its stake in shares of Bank of Nova Scotia by 3.5% in the 2nd quarter. Veriti Management LLC now owns 10,137 shares of the bank's stock valued at $600,000 after purchasing an additional 342 shares during the period. Five Oceans Advisors lifted its stake in shares of Bank of Nova Scotia by 17.3% in the 2nd quarter. Five Oceans Advisors now owns 3,685 shares of the bank's stock valued at $218,000 after purchasing an additional 544 shares during the period. Finally, PDS Planning Inc acquired a new position in shares of Bank of Nova Scotia in the 2nd quarter valued at $203,000. Institutional investors own 45.43% of the company's stock.
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Bank of Nova Scotia Stock Down 0.8 %
Shares of NYSE:BNS opened at $48.64 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.05 and a current ratio of 1.05. The Bank of Nova Scotia has a 1 year low of $48.41 and a 1 year high of $74.86. The stock has a market capitalization of $57.95 billion, a P/E ratio of 7.39, a PEG ratio of 1.43 and a beta of 0.96. The stock has a 50-day simple moving average of $57.60 and a 200-day simple moving average of $62.53.
Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) last issued its earnings results on Tuesday, August 23rd. The bank reported $1.63 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.63. Bank of Nova Scotia had a return on equity of 15.73% and a net
margin of 24.43%. The business had revenue of $6.06 billion during the quarter, compared to analysts' expectations of $6.25 billion. Equities analysts forecast that The Bank of Nova Scotia will post 6.51 earnings per share for the current year.
Bank of Nova Scotia Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 27th. Stockholders of record on Tuesday, October 4th will be issued a dividend of $0.7897 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 6.49%. The ex-dividend date of this dividend is Monday, October 3rd. Bank of Nova Scotia's payout ratio is currently 48.63%.
Analysts Set New Price Targets
BNS has been the subject of a number of research analyst reports. Desjardins cut shares of Bank of Nova Scotia from a "buy" rating to a "hold" rating in a research report on Wednesday, September 7th. National Bank Financial lowered their price objective on shares of Bank of Nova Scotia from C$91.00 to C$90.00 in a research note on Tuesday, August 16th. Credit Suisse Group reduced their target price on shares of Bank of Nova Scotia from C$85.00 to C$84.00 in a report on Wednesday, August 24th. Keefe, Bruyette & Woods lowered shares of Bank of Nova Scotia from an "outperform" rating to a "market perform" rating in a research report on Tuesday, August 23rd. Finally, Royal Bank of Canada lowered shares of Bank of Nova Scotia from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, August 24th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $91.33.
Bank of Nova Scotia Company Profile
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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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