Fmr LLC Acquires 46,658 Shares of Bank of Nova Scotia (NYSE:BNS)

FMR LLC raised its holdings in Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 3.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,575,307 shares of the bank’s stock after buying an additional 46,658 shares during the period. FMR LLC owned about 0.13% of Bank of Nova Scotia worth $83,861,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Natixis Advisors L.P. increased its stake in Bank of Nova Scotia by 22.1% during the 4th quarter. Natixis Advisors L.P. now owns 22,931 shares of the bank’s stock worth $1,143,000 after acquiring an additional 4,155 shares during the period. Millennium Management LLC increased its stake in Bank of Nova Scotia by 669.3% during the 4th quarter. Millennium Management LLC now owns 163,067 shares of the bank’s stock worth $8,132,000 after acquiring an additional 141,869 shares during the period. Blueshift Asset Management LLC bought a new position in Bank of Nova Scotia during the 4th quarter worth $799,000. Commonwealth Bank of Australia increased its stake in Bank of Nova Scotia by 11.4% during the 4th quarter. Commonwealth Bank of Australia now owns 199,150 shares of the bank’s stock worth $9,930,000 after acquiring an additional 20,412 shares during the period. Finally, Callahan Advisors LLC increased its stake in Bank of Nova Scotia by 30.6% during the 1st quarter. Callahan Advisors LLC now owns 32,912 shares of the bank’s stock worth $1,754,000 after acquiring an additional 7,710 shares during the period. Hedge funds and other institutional investors own 45.23% of the company’s stock.

Shares of BNS stock traded down $0.12 during trading hours on Friday, reaching $53.12. The company’s stock had a trading volume of 387,610 shares, compared to its average volume of 623,009. The company’s 50 day moving average is $53.33. The firm has a market capitalization of $65.06 billion, a P/E ratio of 9.76, a price-to-earnings-growth ratio of 2.01 and a beta of 1.15. Bank of Nova Scotia has a fifty-two week low of $48.34 and a fifty-two week high of $60.60. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.28.

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

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Tuesday, July 2nd will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend is Friday, June 28th. Bank of Nova Scotia’s dividend payout ratio is presently 48.90%.

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

Bank of Nova Scotia Profile

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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