Allspring Global Investments Holdings LLC Has $324,000 Position in The Bank of Nova Scotia (NYSE:BNS)

Allspring Global Investments Holdings LLC reduced its holdings in The Bank of Nova Scotia (NYSE:BNSGet Rating) (TSE:BNS) by 13.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,832 shares of the bank’s stock after selling 1,068 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Bank of Nova Scotia were worth $324,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of BNS. Charter Oak Capital Management LLC acquired a new stake in Bank of Nova Scotia in the second quarter worth $26,000. Private Trust Co. NA acquired a new stake in Bank of Nova Scotia in the third quarter worth $28,000. Clear Street Markets LLC acquired a new stake in Bank of Nova Scotia in the second quarter worth $30,000. Hexagon Capital Partners LLC acquired a new stake in Bank of Nova Scotia in the second quarter worth $33,000. Finally, GPS Wealth Strategies Group LLC raised its holdings in Bank of Nova Scotia by 344.8% in the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the bank’s stock worth $38,000 after purchasing an additional 500 shares during the period. 45.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on BNS shares. Scotiabank cut their target price on shares of Bank of Nova Scotia from C$83.50 to C$81.50 and set a “sector perform” rating on the stock in a report on Wednesday, November 30th. StockNews.com assumed coverage on shares of Bank of Nova Scotia in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$89.77.

Bank of Nova Scotia Stock Down 0.3 %

Bank of Nova Scotia stock opened at C$51.90 on Wednesday. The company has a market cap of C$61.85 billion, a P/E ratio of 8.32, a price-to-earnings-growth ratio of 1.89 and a beta of 0.98. The Bank of Nova Scotia has a 1-year low of C$45.26 and a 1-year high of C$74.86. The company has a fifty day simple moving average of C$50.39 and a 200 day simple moving average of C$52.76. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.46.

Bank of Nova Scotia (NYSE:BNSGet Rating) (TSE:BNS) last released its earnings results on Tuesday, November 29th. The bank reported C$1.55 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.49 by C$0.06. The business had revenue of C$5.73 billion during the quarter, compared to the consensus estimate of C$6.21 billion. Bank of Nova Scotia had a net margin of 21.26% and a return on equity of 15.54%. Research analysts anticipate that The Bank of Nova Scotia will post 6.11 earnings per share for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 27th. Investors of record on Wednesday, January 4th will be given a $0.756 dividend. This represents a $3.02 dividend on an annualized basis and a yield of 5.83%. The ex-dividend date is Tuesday, January 3rd. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 48.72%.

Bank of Nova Scotia Profile

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The Bank of Nova Scotia engages in the provision of various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through 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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