The Bank of Nova Scotia (NYSE:BNS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 5.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,300 shares of the bank’s stock after selling 1,700 shares during the quarter. Principal Financial Group Inc.’s holdings in Bank of Nova Scotia were worth $1,477,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Mather Group LLC. raised its stake in shares of Bank of Nova Scotia by 1,388.9% in the 2nd quarter. Mather Group LLC. now owns 536 shares of the bank’s stock worth $25,000 after buying an additional 500 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Bank of Nova Scotia by 3,127.8% in the 2nd quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock worth $27,000 after purchasing an additional 563 shares during the last quarter. Bruce G. Allen Investments LLC grew its stake in shares of Bank of Nova Scotia by 70.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 585 shares of the bank’s stock worth $30,000 after purchasing an additional 242 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of Bank of Nova Scotia by 144.6% in the 1st quarter. Global Retirement Partners LLC now owns 959 shares of the bank’s stock worth $50,000 after purchasing an additional 567 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Bank of Nova Scotia during the first quarter valued at approximately $53,000. 49.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BNS shares. UBS Group started coverage on shares of Bank of Nova Scotia in a research report on Tuesday, July 2nd. They issued a “neutral” rating on the stock. StockNews.com cut Bank of Nova Scotia from a “hold” rating to a “sell” rating in a report on Wednesday, May 29th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $69.00.

Bank of Nova Scotia Stock Down 0.1 %

BNS stock opened at $51.72 on Friday. The company’s 50 day simple moving average is $47.49 and its 200-day simple moving average is $47.78. The Bank of Nova Scotia has a 52-week low of $39.79 and a 52-week high of $51.98. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $63.59 billion, a P/E ratio of 11.65, a P/E/G ratio of 1.60 and a beta of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its earnings results on Tuesday, August 27th. The bank reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.01. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. The company had revenue of $8.36 billion during the quarter, compared to analyst estimates of $8.53 billion. During the same quarter in the prior year, the company earned $1.30 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities research analysts anticipate that The Bank of Nova Scotia will post 4.8 EPS for the current year.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.768 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $3.07 annualized dividend and a yield of 5.94%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 69.14%.

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.