Euro Pacific Asset Management LLC Trims Position in The Bank of Nova Scotia (NYSE:BNS)

Euro Pacific Asset Management LLC decreased its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 0.7% in the third quarter, HoldingsChannel.com reports. The fund owned 237,530 shares of the bank’s stock after selling 1,694 shares during the period. Bank of Nova Scotia comprises about 2.4% of Euro Pacific Asset Management LLC’s portfolio, making the stock its 16th largest holding. Euro Pacific Asset Management LLC’s holdings in Bank of Nova Scotia were worth $12,954,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in BNS. Vanguard Group Inc. grew its stake in shares of Bank of Nova Scotia by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 47,862,189 shares of the bank’s stock worth $2,478,304,000 after buying an additional 891,157 shares during the last quarter. 1832 Asset Management L.P. raised its position in Bank of Nova Scotia by 16.1% in the 1st quarter. 1832 Asset Management L.P. now owns 17,015,877 shares of the bank’s stock worth $881,082,000 after buying an additional 2,361,136 shares during the last quarter. Mackenzie Financial Corp lifted its position in Bank of Nova Scotia by 4.7% during the second quarter. Mackenzie Financial Corp now owns 15,091,880 shares of the bank’s stock valued at $690,438,000 after purchasing an additional 683,946 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Bank of Nova Scotia by 17.6% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 14,563,337 shares of the bank’s stock worth $753,658,000 after buying an additional 2,178,633 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in Bank of Nova Scotia by 2.4% in the third quarter. CIBC Asset Management Inc now owns 10,074,518 shares of the bank’s stock worth $550,729,000 after purchasing an additional 240,803 shares during the last quarter. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

Shares of BNS stock opened at $53.93 on Friday. The stock has a 50 day moving average price of $52.97 and a 200 day moving average price of $49.08. The firm has a market capitalization of $66.74 billion, a P/E ratio of 12.90, a P/E/G ratio of 1.59 and a beta of 1.05. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.02 and a current ratio of 1.02. The Bank of Nova Scotia has a 52-week low of $41.80 and a 52-week high of $55.12.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Tuesday, August 27th. The bank reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.01. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. The business had revenue of $8.36 billion for the quarter, compared to the consensus estimate of $8.53 billion. During the same period in the prior year, the firm earned $1.30 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts predict that The Bank of Nova Scotia will post 4.79 earnings per share for the current year.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Wednesday, October 2nd were given a $0.768 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $3.07 annualized dividend and a dividend yield of 5.70%. Bank of Nova Scotia’s payout ratio is presently 74.88%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. TD Securities upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Cibc World Mkts raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $69.00.

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.