Prospera Financial Services Inc Purchases Shares of 1,833 The Bank of Nova Scotia (NYSE:BNS)

Prospera Financial Services Inc purchased a new stake in The Bank of Nova Scotia (NYSE:BNSGet Rating) (TSE:BNS) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,833 shares of the bank’s stock, valued at approximately $131,000.

A number of other hedge funds have also recently bought and sold shares of BNS. CWM LLC boosted its holdings in Bank of Nova Scotia by 2,750.0% in the 1st quarter. CWM LLC now owns 342 shares of the bank’s stock valued at $25,000 after purchasing an additional 330 shares during the period. JFS Wealth Advisors LLC lifted its holdings in shares of Bank of Nova Scotia by 178.0% during the 1st quarter. JFS Wealth Advisors LLC now owns 353 shares of the bank’s stock worth $25,000 after acquiring an additional 226 shares during the period. West Bancorporation Inc. bought a new position in shares of Bank of Nova Scotia during the 4th quarter worth about $33,000. Retirement Planning Co of New England Inc. bought a new position in shares of Bank of Nova Scotia during the 4th quarter worth about $42,000. Finally, Clearstead Advisors LLC lifted its holdings in shares of Bank of Nova Scotia by 50.0% during the 4th quarter. Clearstead Advisors LLC now owns 750 shares of the bank’s stock worth $54,000 after acquiring an additional 250 shares during the period. 45.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BNS has been the subject of a number of analyst reports. Canaccord Genuity Group raised their price objective on shares of Bank of Nova Scotia from C$89.00 to C$92.00 in a report on Thursday, May 26th. TD Securities increased their target price on shares of Bank of Nova Scotia from C$88.00 to C$90.00 in a research report on Thursday, May 26th. National Bank Financial increased their target price on shares of Bank of Nova Scotia from C$90.00 to C$91.00 in a research report on Thursday, May 26th. Bank of America cut shares of Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 17th. Finally, Credit Suisse Group raised their price objective on shares of Bank of Nova Scotia from C$88.00 to C$91.00 in a research report on Thursday, May 26th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bank of Nova Scotia currently has an average rating of “Hold” and an average target price of $93.90.

Bank of Nova Scotia Stock Down 0.2 %

Shares of NYSE:BNS opened at $60.67 on Friday. The Bank of Nova Scotia has a one year low of $54.23 and a one year high of $74.86. The company has a 50 day moving average of $60.83 and a 200-day moving average of $66.58. 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 stock has a market cap of $72.40 billion, a price-to-earnings ratio of 9.22, a P/E/G ratio of 1.52 and a beta of 0.94.

Bank of Nova Scotia (NYSE:BNSGet Rating) (TSE:BNS) last released its quarterly earnings data on Wednesday, May 25th. The bank reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.19. Bank of Nova Scotia had a net margin of 25.78% and a return on equity of 15.66%. The business had revenue of $7.94 billion for the quarter, compared to analyst estimates of $7.87 billion. During the same quarter last year, the firm earned $1.50 EPS. Bank of Nova Scotia’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts forecast that The Bank of Nova Scotia will post 6.68 earnings per share for the current year.

Bank of Nova Scotia Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 27th. Investors of record on Tuesday, July 5th were paid a dividend of $0.801 per share. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Friday, July 1st. This represents a $3.20 annualized dividend and a yield of 5.28%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 48.63%.

Bank of Nova Scotia Company 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.

Further Reading

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

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