Commonwealth Equity Services LLC Has $941,000 Position in The Bank of Nova Scotia (NYSE:BNS)

Commonwealth Equity Services LLC lowered its position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 72.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,579 shares of the bank’s stock after selling 55,140 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Bank of Nova Scotia were worth $941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tobam increased its stake in shares of Bank of Nova Scotia by 49.7% in the first quarter. Tobam now owns 4,130 shares of the bank’s stock valued at $214,000 after buying an additional 1,371 shares during the period. US Bancorp DE increased its position in Bank of Nova Scotia by 2.5% during the 4th quarter. US Bancorp DE now owns 68,826 shares of the bank’s stock valued at $3,351,000 after purchasing an additional 1,660 shares during the period. Wellington Management Group LLP increased its position in Bank of Nova Scotia by 1.5% during the 4th quarter. Wellington Management Group LLP now owns 2,280,248 shares of the bank’s stock valued at $111,232,000 after purchasing an additional 33,490 shares during the period. Prudential PLC increased its position in 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 purchasing an additional 22,561 shares during the period. Finally, Foguth Wealth Management LLC. acquired a new stake in Bank of Nova Scotia during the 1st quarter valued at approximately $905,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. UBS Group assumed coverage on Bank of Nova Scotia in a report on Tuesday, July 2nd. They set 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 analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat, Bank of Nova Scotia currently has an average rating of “Hold” and a consensus price target of $69.00.

Bank of Nova Scotia Price Performance

Shares of BNS opened at $52.56 on Wednesday. The Bank of Nova Scotia has a 12-month low of $39.79 and a 12-month high of $53.00. The business’s fifty day moving average is $47.91 and its 200 day moving average is $47.87. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. The stock has a market cap of $64.63 billion, a P/E ratio of 11.84, a P/E/G ratio of 1.64 and a beta of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Tuesday, August 27th. The bank reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.01. The company had revenue of $8.36 billion for the quarter, compared to analysts’ expectations of $8.53 billion. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. Bank of Nova Scotia’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $1.30 EPS. Sell-side analysts anticipate that The Bank of Nova Scotia will post 4.8 earnings per share for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 29th. Investors of record on Wednesday, October 2nd will be given a $0.768 dividend. This represents a $3.07 dividend on an annualized basis and a yield of 5.84%. The ex-dividend date is Wednesday, October 2nd. 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.