World Asset Management Inc lowered its position in Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 14.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,829 shares of the bank’s stock after selling 5,192 shares during the period. World Asset Management Inc’s holdings in Bank of Nova Scotia were worth $1,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. raised its stake in shares of Bank of Nova Scotia by 193.7% during the second quarter. Advisors Asset Management Inc. now owns 2,664 shares of the bank’s stock valued at $152,000 after acquiring an additional 1,757 shares in the last quarter. BNP Paribas Arbitrage SA bought a new stake in shares of Bank of Nova Scotia during the second quarter valued at approximately $200,000. Private Advisor Group LLC bought a new stake in shares of Bank of Nova Scotia during the second quarter valued at approximately $230,000. Nwam LLC raised its stake in shares of Bank of Nova Scotia by 38.9% during the second quarter. Nwam LLC now owns 5,235 shares of the bank’s stock valued at $300,000 after acquiring an additional 1,465 shares in the last quarter. Finally, One Capital Management LLC bought a new stake in shares of Bank of Nova Scotia during the third quarter valued at approximately $304,000. 46.18% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently weighed in on the stock. Canaccord Genuity downgraded shares of Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. Zacks Investment Research downgraded shares of Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research note on Thursday, August 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $84.33.
Shares of NYSE:BNS opened at $55.01 on Friday. The company has a market capitalization of $73.45 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 1.75 and a beta of 1.27. Bank of Nova Scotia has a 52 week low of $54.77 and a 52 week high of $66.78. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.09.
Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Tuesday, August 28th. The bank reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.39. The company had revenue of $7.18 billion during the quarter, compared to the consensus estimate of $7.34 billion. Bank of Nova Scotia had a net margin of 21.55% and a return on equity of 14.62%. Bank of Nova Scotia’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.66 earnings per share. On average, sell-side analysts predict that Bank of Nova Scotia will post 5.42 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 29th. Investors of record on Tuesday, October 2nd will be paid a $0.6539 dividend. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Monday, October 1st. This represents a $2.62 dividend on an annualized basis and a yield of 4.75%. Bank of Nova Scotia’s payout ratio is 50.19%.
Bank of Nova Scotia Profile
The Bank of Nova Scotia provides various financial services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. It offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.
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