Marshall Wace North America L.P. Lowers Stock Holdings in Bank of Nova Scotia (NYSE:BNS)

Marshall Wace North America L.P. decreased its stake in shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 61.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,500 shares of the bank’s stock after selling 76,336 shares during the quarter. Marshall Wace North America L.P.’s holdings in Bank of Nova Scotia were worth $2,583,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc raised its position in shares of Bank of Nova Scotia by 3.9% in the third quarter. Vanguard Group Inc now owns 32,022,181 shares of the bank’s stock worth $1,909,483,000 after buying an additional 1,199,502 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Bank of Nova Scotia by 29.0% in the fourth quarter. Advisors Asset Management Inc. now owns 4,743 shares of the bank’s stock valued at $237,000 after acquiring an additional 1,065 shares during the last quarter. M&T Bank Corp increased its stake in Bank of Nova Scotia by 8.0% in the fourth quarter. M&T Bank Corp now owns 6,828 shares of the bank’s stock valued at $341,000 after acquiring an additional 508 shares during the last quarter. Comerica Bank increased its stake in Bank of Nova Scotia by 1.3% in the fourth quarter. Comerica Bank now owns 71,893 shares of the bank’s stock valued at $4,032,000 after acquiring an additional 913 shares during the last quarter. Finally, Virginia Retirement Systems ET AL increased its stake in Bank of Nova Scotia by 3.2% in the fourth quarter. Virginia Retirement Systems ET AL now owns 234,000 shares of the bank’s stock valued at $11,659,000 after acquiring an additional 7,300 shares during the last quarter. Institutional investors and hedge funds own 45.22% of the company’s stock.

NYSE:BNS traded down $0.50 during trading hours on Friday, reaching $53.52. The company had a trading volume of 499,553 shares, compared to its average volume of 599,767. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.05 and a current ratio of 1.05. Bank of Nova Scotia has a 52 week low of $48.34 and a 52 week high of $60.60. The stock has a market cap of $65.40 billion, a price-to-earnings ratio of 9.84, a price-to-earnings-growth ratio of 2.04 and a beta of 1.15. The company’s 50 day simple moving average is $53.17.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its earnings results on Tuesday, May 28th. The bank reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.04). Bank of Nova Scotia had a return on equity of 13.55% and a net margin of 19.20%. The company had revenue of $7.80 billion during the quarter, compared to the consensus estimate of $7.60 billion. During the same period last year, the firm posted $1.70 EPS. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities research analysts predict that Bank of Nova Scotia will post 5.26 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Tuesday, July 2nd will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date is Friday, June 28th. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 48.90%.

A number of research analysts recently commented on the company. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research cut HEXO from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Finally, Barclays raised Encompass Health from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $68.00 to $70.00 in a research note on Thursday, May 30th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $77.75.

About Bank of Nova Scotia

The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.

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Institutional Ownership by Quarter for Bank of Nova Scotia (NYSE:BNS)

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