Zacks Investment Research cut shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) from a hold rating to a sell rating in a report published on Wednesday morning.

According to Zacks, “Bank of Nova Scotia is one of North America’s premier financial institutions and Canada’s most international bank. They offer a diverse range of products and services including personal, commercial, corporate and investment banking. Scotiabank has built long-term value and recorded consistent earnings growth by building on its core strengths and by executing exceptionally well in its core businesses. These include Domestic Banking, Wealth Management, International Banking and Scotia Capital. “

A number of other research analysts have also recently commented on the company. BidaskClub cut Bank of Nova Scotia (The) from a buy rating to a hold rating in a research report on Thursday, July 27th. Citigroup Inc. upgraded Bank of Nova Scotia (The) from a neutral rating to a buy rating in a research report on Wednesday, September 20th. Macquarie began coverage on Bank of Nova Scotia (The) in a research report on Tuesday, October 24th. They issued an outperform rating on the stock. Canaccord Genuity began coverage on Bank of Nova Scotia (The) in a research report on Tuesday, July 18th. They issued a buy rating on the stock. Finally, Scotiabank restated a buy rating and issued a $88.00 price target on shares of Bank of Nova Scotia (The) in a research report on Wednesday, August 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $83.20.

Shares of Bank of Nova Scotia (BNS) opened at $65.59 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $79,009.91, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 1.53 and a beta of 1.28. Bank of Nova Scotia has a twelve month low of $51.21 and a twelve month high of $65.99.

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Tuesday, August 29th. The bank reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.38). The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.28 billion. Bank of Nova Scotia (The) had a return on equity of 14.54% and a net margin of 22.26%. During the same quarter in the previous year, the business earned $1.54 EPS. equities research analysts expect that Bank of Nova Scotia will post 5.22 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Tuesday, October 3rd were paid a dividend of $0.6294 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.84%. This is a positive change from Bank of Nova Scotia (The)’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Monday, October 2nd. Bank of Nova Scotia (The)’s dividend payout ratio (DPR) is presently 50.62%.

Hedge funds have recently made changes to their positions in the company. Fiduciary Trust Co. acquired a new stake in shares of Bank of Nova Scotia (The) during the second quarter valued at about $102,000. IFP Advisors Inc lifted its stake in shares of Bank of Nova Scotia (The) by 46.7% in the second quarter. IFP Advisors Inc now owns 2,077 shares of the bank’s stock worth $125,000 after acquiring an additional 661 shares during the period. ARP Americas LLC acquired a new position in shares of Bank of Nova Scotia (The) in the third quarter worth approximately $202,000. Quantum Capital Management acquired a new position in shares of Bank of Nova Scotia (The) in the second quarter worth approximately $205,000. Finally, Cetera Investment Advisers acquired a new position in shares of Bank of Nova Scotia (The) in the second quarter worth approximately $207,000. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

About Bank of Nova Scotia (The)

The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank offers a range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

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