The Bank of Nova Scotia (NYSE:BNS) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board trimmed its position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 2.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 160,293 shares of the bank’s stock after selling 3,825 shares during the quarter. Public Sector Pension Investment Board’s holdings in Bank of Nova Scotia were worth $7,331,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. TD Asset Management Inc boosted its stake in Bank of Nova Scotia by 23.2% during the 4th quarter. TD Asset Management Inc now owns 19,841,901 shares of the bank’s stock worth $970,577,000 after purchasing an additional 3,731,541 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Bank of Nova Scotia during the second quarter worth about $120,463,000. 1832 Asset Management L.P. grew its stake in Bank of Nova Scotia by 16.1% during the 1st quarter. 1832 Asset Management L.P. now owns 17,015,877 shares of the bank’s stock valued at $881,082,000 after acquiring an additional 2,361,136 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Bank of Nova Scotia by 17.6% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 14,563,337 shares of the bank’s stock valued at $753,658,000 after acquiring an additional 2,178,633 shares during the last quarter. Finally, Nicola Wealth Management LTD. purchased a new position in Bank of Nova Scotia in the 1st quarter worth approximately $77,670,000. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Trading Up 0.6 %

BNS opened at $54.26 on Wednesday. The stock has a market capitalization of $66.71 billion, a PE ratio of 12.22, a P/E/G ratio of 1.64 and a beta of 1.04. The Bank of Nova Scotia has a one year low of $39.79 and a one year high of $54.41. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.02 and a current ratio of 1.02. The business’s 50 day moving average price is $48.56 and its 200 day moving average price is $48.00.

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

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.768 per share. This represents a $3.07 dividend on an annualized basis and a dividend yield of 5.66%. The ex-dividend date is Wednesday, October 2nd. Bank of Nova Scotia’s dividend payout ratio is presently 70.72%.

Analyst Ratings Changes

BNS has been the subject of several recent research reports. UBS Group assumed coverage on Bank of Nova Scotia in a report on Tuesday, July 2nd. They issued a “neutral” rating for the company. StockNews.com downgraded Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Wednesday, May 29th. Finally, Cibc World Mkts raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $69.00.

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.