HRT Financial LP Acquires New Stake in The Bank of Nova Scotia (NYSE:BNS)

HRT Financial LP acquired a new stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 108,346 shares of the bank’s stock, valued at approximately $5,456,000.

Other institutional investors have also bought and sold shares of the company. Coston McIsaac & Partners lifted its stake in Bank of Nova Scotia by 167.9% in the first quarter. Coston McIsaac & Partners now owns 501 shares of the bank’s stock valued at $25,000 after purchasing an additional 314 shares during the last quarter. Endurance Wealth Management Inc. raised its holdings in Bank of Nova Scotia by 1,190.5% during the 1st quarter. Endurance Wealth Management Inc. now owns 542 shares of the bank’s stock valued at $27,000 after acquiring an additional 500 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in Bank of Nova Scotia by 69.9% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 909 shares of the bank’s stock valued at $46,000 after acquiring an additional 374 shares during the period. CWM LLC raised its holdings in Bank of Nova Scotia by 150.8% during the 1st quarter. CWM LLC now owns 1,377 shares of the bank’s stock valued at $69,000 after acquiring an additional 828 shares during the period. Finally, Delta Asset Management LLC TN bought a new stake in Bank of Nova Scotia during the 4th quarter valued at $73,000. Hedge funds and other institutional investors own 43.18% of the company’s stock.

Bank of Nova Scotia Price Performance

BNS traded up $0.70 during trading on Monday, reaching $48.14. The stock had a trading volume of 1,657,300 shares, compared to its average volume of 1,381,455. The stock has a market cap of $58.02 billion, a PE ratio of 10.11, a PEG ratio of 2.29 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.05 and a current ratio of 1.05. The Bank of Nova Scotia has a one year low of $45.25 and a one year high of $57.25. The business has a 50-day moving average of $48.40 and a 200-day moving average of $49.33.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its earnings results on Tuesday, August 29th. The bank reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.45. The business had revenue of $8.09 billion for the quarter, compared to analysts’ expectations of $8.16 billion. Bank of Nova Scotia had a return on equity of 13.31% and a net margin of 12.25%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.63 earnings per share. As a group, equities research analysts anticipate that The Bank of Nova Scotia will post 5.17 EPS for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Tuesday, October 3rd will be given a dividend of $0.7801 per share. The ex-dividend date of this dividend is Monday, October 2nd. This represents a $3.12 annualized dividend and a yield of 6.48%. Bank of Nova Scotia’s payout ratio is 67.23%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BNS shares. StockNews.com assumed coverage on shares of Bank of Nova Scotia in a report on Thursday, August 17th. They set a “hold” rating on the stock. Barclays upped their price target on shares of Bank of Nova Scotia from $63.00 to $65.00 and gave the stock an “underweight” rating in a report on Monday, August 21st. Finally, Scotiabank decreased their price target on shares of Bank of Nova Scotia from $68.00 to $66.00 and set a “hold” rating on the stock in a report on Wednesday, August 30th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, Bank of Nova Scotia currently has an average rating of “Hold” and an average price target of $69.33.

About Bank of Nova Scotia

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.