The Bank of Nova Scotia (NYSE:BNS) Shares Purchased by Applied Capital LLC FL

Applied Capital LLC FL increased its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 20.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 5,505 shares of the bank’s stock after acquiring an additional 920 shares during the period. Applied Capital LLC FL’s holdings in Bank of Nova Scotia were worth $285,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hexagon Capital Partners LLC lifted its position in Bank of Nova Scotia by 20.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 4,812 shares of the bank’s stock worth $249,000 after acquiring an additional 826 shares in the last quarter. Foguth Wealth Management LLC. purchased a new stake in Bank of Nova Scotia during the 1st quarter worth approximately $905,000. Galibier Capital Management Ltd. purchased a new stake in Bank of Nova Scotia during the 1st quarter worth approximately $76,000. Wealth Enhancement Advisory Services LLC increased its holdings in Bank of Nova Scotia by 1.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,432 shares of the bank’s stock worth $799,000 after purchasing an additional 219 shares during the last quarter. Finally, Cardinal Capital Management increased its holdings in Bank of Nova Scotia by 7.5% during the 1st quarter. Cardinal Capital Management now owns 51,788 shares of the bank’s stock worth $2,682,000 after purchasing an additional 3,623 shares during the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Performance

BNS stock traded up $0.34 during trading on Tuesday, reaching $45.80. 4,937,688 shares of the company’s stock were exchanged, compared to its average volume of 1,935,741. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.57. The Bank of Nova Scotia has a 1-year low of $39.79 and a 1-year high of $51.98. The company’s fifty day moving average price is $46.93 and its 200-day moving average price is $47.65. The firm has a market cap of $56.31 billion, a PE ratio of 10.30, a P/E/G ratio of 1.69 and a beta of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings results on Tuesday, May 28th. The bank reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. Bank of Nova Scotia had a return on equity of 11.40% and a net margin of 10.40%. The company had revenue of $6.15 billion during the quarter, compared to analyst estimates of $6.10 billion. On average, research analysts expect that The Bank of Nova Scotia will post 4.82 EPS for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Wednesday, July 3rd will be issued a $0.769 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $3.08 annualized dividend and a dividend yield of 6.72%. Bank of Nova Scotia’s dividend payout ratio (DPR) is 70.72%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays assumed coverage on Bank of Nova Scotia in a report on Wednesday, March 20th. They issued an “underweight” rating and a $70.00 price target for the company. UBS Group started coverage on Bank of Nova Scotia in a report on Tuesday. They issued a “neutral” rating for the company. Finally, StockNews.com downgraded Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Wednesday, May 29th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $68.00.

Bank of Nova Scotia Company Profile

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 through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.