DekaBank Deutsche Girozentrale Cuts Stake in The Bank of Nova Scotia (NYSE:BNS)

DekaBank Deutsche Girozentrale lessened its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 272,850 shares of the bank’s stock after selling 3,475 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Bank of Nova Scotia were worth $14,853,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Mather Group LLC. increased its holdings in shares of Bank of Nova Scotia by 1,388.9% in the second quarter. Mather Group LLC. now owns 536 shares of the bank’s stock worth $25,000 after buying an additional 500 shares during the period. Blue Trust Inc. increased its stake in 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 period. Headlands Technologies LLC bought a new stake in Bank of Nova Scotia in the first quarter valued at approximately $53,000. City State Bank purchased a new stake in shares of Bank of Nova Scotia during the third quarter valued at approximately $57,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Bank of Nova Scotia by 102.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,605 shares of the bank’s stock worth $83,000 after purchasing an additional 811 shares during the last quarter. 49.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on BNS. UBS Group started coverage on shares of Bank of Nova Scotia in a report on Tuesday, July 2nd. They set a “neutral” rating for the company. Cibc World Mkts upgraded shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Bank of Nova Scotia presently has a consensus rating of “Hold” and an average price target of $69.00.

Bank of Nova Scotia Price Performance

BNS stock opened at $52.22 on Wednesday. The firm has a 50-day moving average of $51.96 and a 200 day moving average of $48.51. 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 company has a market cap of $64.63 billion, a P/E ratio of 12.49, a PEG ratio of 1.64 and a beta of 1.05. The Bank of Nova Scotia has a 1 year low of $40.21 and a 1 year high of $55.12.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data 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 during 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 revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.30 earnings per share. On average, sell-side analysts forecast 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 disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd were issued a $0.768 dividend. This represents a $3.07 dividend on an annualized basis and a yield of 5.88%. The ex-dividend date of this dividend was Wednesday, October 2nd. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 74.88%.

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.