Avantax Advisory Services Inc. Grows Stock Holdings in The Bank of Nova Scotia (NYSE:BNS)

Avantax Advisory Services Inc. boosted its holdings in shares of The Bank of Nova Scotia (NYSE:BNSFree Report) (TSE:BNS) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,162 shares of the bank’s stock after acquiring an additional 718 shares during the period. Avantax Advisory Services Inc.’s holdings in Bank of Nova Scotia were worth $1,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Harbour Investments Inc. grew its stake in shares of Bank of Nova Scotia by 10.2% during the 4th quarter. Harbour Investments Inc. now owns 2,115 shares of the bank’s stock worth $104,000 after purchasing an additional 195 shares during the period. Cetera Investment Advisers raised its holdings in shares of Bank of Nova Scotia by 3.7% during the 1st quarter. Cetera Investment Advisers now owns 5,548 shares of the bank’s stock worth $398,000 after acquiring an additional 196 shares during the period. First Manhattan Co. raised its holdings in shares of Bank of Nova Scotia by 5.1% during the 4th quarter. First Manhattan Co. now owns 4,204 shares of the bank’s stock worth $206,000 after acquiring an additional 204 shares during the period. Cetera Advisor Networks LLC raised its holdings in Bank of Nova Scotia by 4.7% in the 2nd quarter. Cetera Advisor Networks LLC now owns 4,772 shares of the bank’s stock valued at $239,000 after buying an additional 214 shares during the period. Finally, Guggenheim Capital LLC increased its stake in Bank of Nova Scotia by 1.5% during the first quarter. Guggenheim Capital LLC now owns 16,443 shares of the bank’s stock worth $1,179,000 after purchasing an additional 250 shares during the period. 43.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on BNS. BMO Capital Markets lowered their price objective on Bank of Nova Scotia from $73.00 to $68.00 and set a “market perform” rating for the company in a research report on Wednesday, November 29th. StockNews.com upgraded Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research note on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $69.00.

View Our Latest Research Report on Bank of Nova Scotia

Bank of Nova Scotia Price Performance

Bank of Nova Scotia stock opened at $45.85 on Friday. The Bank of Nova Scotia has a one year low of $39.79 and a one year high of $55.91. The company has a market cap of $55.67 billion, a P/E ratio of 10.69, a price-to-earnings-growth ratio of 1.60 and a beta of 1.03. The business has a fifty day moving average of $46.57 and a two-hundred day moving average of $45.80. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05.

Bank of Nova Scotia (NYSE:BNSGet Free Report) (TSE:BNS) last announced its quarterly earnings results on Tuesday, November 28th. The bank reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.28). Bank of Nova Scotia had a net margin of 10.47% and a return on equity of 11.87%. The firm had revenue of $8.31 billion during the quarter, compared to analysts’ expectations of $5.98 billion. During the same quarter in the prior year, the business earned $1.55 EPS. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, analysts predict that The Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 29th. Stockholders of record on Wednesday, January 3rd were given a $0.7773 dividend. This represents a $3.11 dividend on an annualized basis and a dividend yield of 6.78%. The ex-dividend date was Tuesday, January 2nd. Bank of Nova Scotia’s dividend payout ratio is currently 72.73%.

About Bank of Nova Scotia

(Free Report)

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.

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

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