NuWave Investment Management LLC Purchases New Holdings in The Bank of Nova Scotia (NYSE:BNS)

NuWave Investment Management LLC acquired a new stake in The Bank of Nova Scotia (NYSE:BNSGet Rating) (TSE:BNS) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,150 shares of the bank’s stock, valued at approximately $154,000.

Other large investors have also added to or reduced their stakes in the company. West Bancorporation Inc. bought a new stake in Bank of Nova Scotia in the fourth quarter valued at approximately $33,000. Retirement Planning Co of New England Inc. bought a new stake in Bank of Nova Scotia in the fourth quarter valued at approximately $42,000. Clearstead Advisors LLC raised its stake in Bank of Nova Scotia by 50.0% in the fourth quarter. Clearstead Advisors LLC now owns 750 shares of the bank’s stock valued at $54,000 after buying an additional 250 shares during the period. Lindbrook Capital LLC raised its stake in Bank of Nova Scotia by 23.1% in the fourth quarter. Lindbrook Capital LLC now owns 969 shares of the bank’s stock valued at $69,000 after buying an additional 182 shares during the period. Finally, Mystic Asset Management Inc. bought a new stake in Bank of Nova Scotia in the fourth quarter valued at approximately $75,000. Hedge funds and other institutional investors own 45.01% of the company’s stock.

Several analysts have issued reports on BNS shares. Bank of America lowered Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 17th. StockNews.com assumed coverage on Bank of Nova Scotia in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Stifel Nicolaus increased their target price on Bank of Nova Scotia from C$95.00 to C$97.00 in a research note on Thursday, May 26th. CIBC lowered Bank of Nova Scotia from a “sector outperform” rating to a “neutral” rating in a research note on Monday, April 11th. Finally, National Bank Financial increased their target price on Bank of Nova Scotia from C$90.00 to C$91.00 in a research note on Thursday, May 26th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $93.74.

Shares of NYSE:BNS opened at $60.22 on Thursday. The company has a market capitalization of $72.03 billion, a P/E ratio of 9.15, a P/E/G ratio of 1.55 and a beta of 0.93. The Bank of Nova Scotia has a 1 year low of $59.05 and a 1 year high of $74.86. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.06 and a quick ratio of 1.06. The business’s 50 day simple moving average is $64.73 and its 200 day simple moving average is $69.13.

Bank of Nova Scotia (NYSE:BNSGet Rating) (TSE:BNS) last issued its quarterly earnings results on Wednesday, May 25th. The bank reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.65. The business had revenue of $7.94 billion for the quarter, compared to the consensus estimate of $7.87 billion. Bank of Nova Scotia had a return on equity of 15.66% and a net margin of 25.78%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.50 earnings per share. On average, sell-side analysts anticipate that The Bank of Nova Scotia will post 6.69 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Tuesday, July 5th will be issued a $0.801 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date is Friday, July 1st. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $0.79. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 48.63%.

Bank of Nova Scotia Profile (Get Rating)

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 in four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.

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Institutional Ownership by Quarter for Bank of Nova Scotia (NYSE:BNS)

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