Bank of Nova Scotia (The) $BNS Stock Holdings Reduced by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. decreased its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 79.6% during the third quarter, HoldingsChannel reports. The firm owned 517,300 shares of the bank’s stock after selling 2,017,800 shares during the quarter. Bank of Nova Scotia comprises approximately 3.0% of Nicola Wealth Management LTD.’s holdings, making the stock its 6th biggest position. Nicola Wealth Management LTD.’s holdings in Bank of Nova Scotia were worth $33,452,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BNS. AQR Capital Management LLC boosted its holdings in Bank of Nova Scotia by 111.2% during the first quarter. AQR Capital Management LLC now owns 19,096 shares of the bank’s stock valued at $911,000 after acquiring an additional 10,056 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Bank of Nova Scotia during the second quarter worth approximately $330,000. Signaturefd LLC grew its stake in shares of Bank of Nova Scotia by 12.3% in the second quarter. Signaturefd LLC now owns 20,756 shares of the bank’s stock worth $1,147,000 after acquiring an additional 2,278 shares during the last quarter. HB Wealth Management LLC grew its stake in shares of Bank of Nova Scotia by 18.6% in the second quarter. HB Wealth Management LLC now owns 5,224 shares of the bank’s stock worth $289,000 after acquiring an additional 818 shares during the last quarter. Finally, Gold Investment Management Ltd. increased its position in Bank of Nova Scotia by 2.8% during the second quarter. Gold Investment Management Ltd. now owns 142,484 shares of the bank’s stock worth $7,877,000 after acquiring an additional 3,815 shares during the period. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on BNS shares. Raymond James Financial initiated coverage on shares of Bank of Nova Scotia in a research report on Tuesday, November 25th. They issued an “outperform” rating on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bank of Nova Scotia in a research note on Monday, December 29th. Finally, Royal Bank Of Canada increased 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 equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $97.00.

Bank of Nova Scotia Stock Up 0.3%

Shares of BNS opened at $75.08 on Tuesday. The business’s 50 day simple moving average is $71.95 and its 200-day simple moving average is $65.24. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.04 and a quick ratio of 1.04. Bank of Nova Scotia has a one year low of $44.09 and a one year high of $75.47. The company has a market capitalization of $92.70 billion, a P/E ratio of 18.68, a PEG ratio of 0.98 and a beta of 1.11.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Tuesday, December 2nd. The bank reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.06. Bank of Nova Scotia had a net margin of 10.60% and a return on equity of 12.10%. The firm had revenue of $6.99 billion during the quarter, compared to analysts’ expectations of $6.85 billion. During the same quarter last year, the company posted $1.57 EPS. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. As a group, sell-side analysts predict that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Bank of Nova Scotia Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 28th. Stockholders of record on Tuesday, January 6th will be given a dividend of $1.10 per share. The ex-dividend date is Tuesday, January 6th. This represents a $4.40 annualized dividend and a dividend yield of 5.9%. Bank of Nova Scotia’s payout ratio is currently 79.85%.

About Bank of Nova Scotia

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.