The Bank of Nova Scotia (NYSE:BNS) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. grew its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 3,127.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 581 shares of the bank’s stock after purchasing an additional 563 shares during the quarter. Blue Trust Inc.’s holdings in Bank of Nova Scotia were worth $27,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its position in Bank of Nova Scotia by 1.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,432 shares of the bank’s stock worth $799,000 after acquiring an additional 219 shares in the last quarter. Power Corp of Canada raised its stake in shares of Bank of Nova Scotia by 1.9% during the fourth quarter. Power Corp of Canada now owns 12,037 shares of the bank’s stock valued at $587,000 after purchasing an additional 226 shares during the period. Bruce G. Allen Investments LLC lifted its position in shares of Bank of Nova Scotia by 70.6% during the first quarter. Bruce G. Allen Investments LLC now owns 585 shares of the bank’s stock worth $30,000 after purchasing an additional 242 shares in the last quarter. Metis Global Partners LLC boosted its stake in shares of Bank of Nova Scotia by 0.4% in the fourth quarter. Metis Global Partners LLC now owns 59,065 shares of the bank’s stock valued at $2,875,000 after purchasing an additional 258 shares during the period. Finally, Pacifica Partners Inc. grew its holdings in Bank of Nova Scotia by 1.5% during the 2nd quarter. Pacifica Partners Inc. now owns 19,493 shares of the bank’s stock valued at $889,000 after purchasing an additional 288 shares in the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Up 1.9 %

BNS opened at $48.42 on Friday. 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 debt-to-equity ratio of 0.57, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $59.54 billion, a PE ratio of 10.91, a P/E/G ratio of 1.70 and a beta of 1.04. The firm’s fifty day moving average price is $46.20 and its 200 day moving average price is $47.47.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings results on Tuesday, May 28th. The bank reported $1.16 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 analysts’ expectations of $6.10 billion. Bank of Nova Scotia had a net margin of 10.40% and a return on equity of 11.40%. As a group, research analysts expect 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 announced a quarterly dividend, which was paid on Monday, July 29th. Shareholders of record on Wednesday, July 3rd were issued a dividend of $0.769 per share. This represents a $3.08 dividend on an annualized basis and a yield of 6.35%. The ex-dividend date was Wednesday, July 3rd. Bank of Nova Scotia’s dividend payout ratio is presently 69.59%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BNS shares. UBS Group assumed coverage on shares of Bank of Nova Scotia in a 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 research note on Wednesday, May 29th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, Bank of Nova Scotia has an average rating of “Hold” and an average target price of $68.00.

Bank of Nova Scotia 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.