Bank of Nova Scotia (The) $BNS Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 49.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,595,613 shares of the bank’s stock after selling 6,552,642 shares during the period. JPMorgan Chase & Co. owned approximately 0.53% of Bank of Nova Scotia worth $426,406,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Cypress Capital Management LLC WY bought a new stake in shares of Bank of Nova Scotia during the second quarter valued at about $33,000. Smartleaf Asset Management LLC raised its position in shares of Bank of Nova Scotia by 3,304.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 783 shares of the bank’s stock worth $51,000 after buying an additional 760 shares in the last quarter. VSM Wealth Advisory LLC acquired a new stake in shares of Bank of Nova Scotia in the 2nd quarter worth approximately $55,000. Toth Financial Advisory Corp bought a new position in shares of Bank of Nova Scotia in the third quarter valued at approximately $67,000. Finally, MAI Capital Management increased its stake in shares of Bank of Nova Scotia by 27.4% during the second quarter. MAI Capital Management now owns 1,543 shares of the bank’s stock valued at $85,000 after acquiring an additional 332 shares during the period. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Performance

BNS opened at $75.99 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.70. The firm has a market cap of $93.67 billion, a PE ratio of 18.90, a P/E/G ratio of 0.98 and a beta of 1.11. The business has a fifty day simple moving average of $74.24 and a 200-day simple moving average of $67.59. Bank of Nova Scotia has a fifty-two week low of $44.09 and a fifty-two week high of $78.28.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its earnings results on Tuesday, December 2nd. The bank reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. Bank of Nova Scotia had a return on equity of 12.10% and a net margin of 10.60%.The company had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.85 billion. During the same period in the previous year, the firm earned $1.57 earnings per share. Bank of Nova Scotia’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, equities analysts predict that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Tuesday, January 6th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Tuesday, January 6th. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 79.85%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BNS shares. Weiss Ratings restated a “hold (c+)” rating on shares of Bank of Nova Scotia in a research report on Monday, December 29th. Raymond James Financial initiated coverage on Bank of Nova Scotia in a research note on Tuesday, November 25th. They set an “outperform” rating for the company. Finally, Royal Bank Of Canada lifted their target price on Bank of Nova Scotia from $86.00 to $97.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 3rd. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $97.00.

Bank of Nova Scotia Company Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada’s largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.

Scotiabank’s core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.