Gulf International Bank UK Ltd Has $411,000 Stock Holdings in The Bank of Nova Scotia (NYSE:BNS)

Gulf International Bank UK Ltd grew its stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 8.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 7,953 shares of the bank’s stock after buying an additional 634 shares during the period. Gulf International Bank UK Ltd’s holdings in Bank of Nova Scotia were worth $411,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bruce G. Allen Investments LLC increased its stake in shares of Bank of Nova Scotia by 70.6% in the first quarter. Bruce G. Allen Investments LLC now owns 585 shares of the bank’s stock valued at $30,000 after buying an additional 242 shares during the period. Fifth Third Bancorp grew its stake in Bank of Nova Scotia by 71.6% during the fourth quarter. Fifth Third Bancorp now owns 858 shares of the bank’s stock worth $42,000 after purchasing an additional 358 shares during the period. Addison Advisors LLC grew its stake in Bank of Nova Scotia by 88.6% during the fourth quarter. Addison Advisors LLC now owns 2,948 shares of the bank’s stock worth $144,000 after purchasing an additional 1,385 shares during the period. Enterprise Bank & Trust Co acquired a new stake in Bank of Nova Scotia during the first quarter worth approximately $206,000. Finally, Hexagon Capital Partners LLC grew its stake in Bank of Nova Scotia by 43.9% during the fourth quarter. Hexagon Capital Partners LLC now owns 3,986 shares of the bank’s stock worth $194,000 after purchasing an additional 1,216 shares during the period. Institutional investors and hedge funds own 49.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BNS shares. Barclays started coverage on Bank of Nova Scotia in a research note on Wednesday, March 20th. They set an “underweight” rating and a $70.00 target price for the company. StockNews.com cut Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Wednesday, May 29th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $68.00.

Bank of Nova Scotia Stock Down 0.4 %

Shares of NYSE:BNS opened at $45.12 on Monday. The business’s 50 day simple moving average is $47.07 and its two-hundred day simple moving average is $47.64. The firm has a market cap of $55.48 billion, a P/E ratio of 10.16, a PEG ratio of 1.68 and a beta of 1.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.03. The Bank of Nova Scotia has a 52-week low of $39.79 and a 52-week high of $51.98.

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 the consensus estimate of $1.14 by $0.02. The business had revenue of $6.15 billion for the quarter, compared to analyst estimates of $6.10 billion. Bank of Nova Scotia had a return on equity of 11.40% and a net margin of 10.40%. As a group, research analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, July 29th. Shareholders 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 yield of 6.82%. Bank of Nova Scotia’s payout ratio is currently 70.72%.

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.