The Bank of Nova Scotia (NYSE:BNS) Holdings Trimmed by Radnor Capital Management LLC

Radnor Capital Management LLC reduced its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 7.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,090 shares of the bank’s stock after selling 1,213 shares during the period. Radnor Capital Management LLC’s holdings in Bank of Nova Scotia were worth $781,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. US Bancorp DE grew its stake in shares of Bank of Nova Scotia by 2.5% in the 4th quarter. US Bancorp DE now owns 68,826 shares of the bank’s stock worth $3,351,000 after purchasing an additional 1,660 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Bank of Nova Scotia by 1.5% in the fourth quarter. Wellington Management Group LLP now owns 2,280,248 shares of the bank’s stock valued at $111,232,000 after buying an additional 33,490 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Bank of Nova Scotia by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 45,691,098 shares of the bank’s stock valued at $2,083,057,000 after acquiring an additional 725,489 shares during the last quarter. Prudential PLC lifted its position in shares of Bank of Nova Scotia by 141.7% during the 4th quarter. Prudential PLC now owns 38,482 shares of the bank’s stock valued at $1,873,000 after acquiring an additional 22,561 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Bank of Nova Scotia by 71.6% during the 4th quarter. Fifth Third Bancorp now owns 858 shares of the bank’s stock worth $42,000 after acquiring an additional 358 shares in the last quarter. 49.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BNS has been the subject of several analyst reports. StockNews.com downgraded Bank of Nova Scotia from a “hold” rating to a “sell” rating in a report on Wednesday, May 29th. Barclays began coverage on shares of Bank of Nova Scotia in a research note on Wednesday, March 20th. They set an “underweight” rating and a $70.00 price objective for the company. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Bank of Nova Scotia currently has a consensus rating of “Hold” and an average target price of $68.00.

Bank of Nova Scotia Stock Performance

Shares of Bank of Nova Scotia stock opened at $45.36 on Monday. The Bank of Nova Scotia has a 12 month low of $39.79 and a 12 month high of $51.98. 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 stock has a market cap of $55.77 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 1.68 and a beta of 1.05. The business has a fifty day simple moving average of $47.07 and a 200-day simple moving average of $47.64.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data 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. Bank of Nova Scotia had a return on equity of 11.40% and a net margin of 10.40%. The firm had revenue of $6.15 billion during the quarter, compared to the consensus estimate of $6.10 billion. On average, sell-side analysts anticipate that The Bank of Nova Scotia will post 4.82 EPS for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Wednesday, July 3rd will be paid a $0.769 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $3.08 annualized dividend and a yield of 6.78%. Bank of Nova Scotia’s dividend payout ratio is presently 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.