Principal Financial Group Inc. Decreases Holdings in The Bank of Nova Scotia (NYSE:BNS)

Principal Financial Group Inc. lessened its position in shares of The Bank of Nova Scotia (NYSE:BNSFree Report) (TSE:BNS) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 47,981 shares of the bank’s stock after selling 800 shares during the period. Principal Financial Group Inc.’s holdings in Bank of Nova Scotia were worth $2,161,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mcmillion Capital Management Inc. bought a new stake in Bank of Nova Scotia during the 2nd quarter worth approximately $42,000. Lindbrook Capital LLC grew its stake in Bank of Nova Scotia by 55.1% in the 2nd quarter. Lindbrook Capital LLC now owns 1,846 shares of the bank’s stock worth $92,000 after buying an additional 656 shares in the last quarter. Belpointe Asset Management LLC grew its stake in Bank of Nova Scotia by 1,225.9% in the 1st quarter. Belpointe Asset Management LLC now owns 1,843 shares of the bank’s stock worth $93,000 after buying an additional 1,704 shares in the last quarter. Harbour Investments Inc. grew its stake in Bank of Nova Scotia by 10.2% in the 4th quarter. Harbour Investments Inc. now owns 2,115 shares of the bank’s stock worth $104,000 after buying an additional 195 shares in the last quarter. Finally, CWM LLC grew its stake in Bank of Nova Scotia by 64.9% in the 2nd quarter. CWM LLC now owns 2,271 shares of the bank’s stock worth $114,000 after buying an additional 894 shares in the last quarter. Institutional investors own 43.18% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. BMO Capital Markets cut their price target on shares of Bank of Nova Scotia from $73.00 to $68.00 and set a “market perform” rating for the company in a research note on Wednesday, November 29th. StockNews.com raised shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research note on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, Bank of Nova Scotia currently has a consensus rating of “Hold” and a consensus price target of $69.00.

View Our Latest Stock Report on BNS

Bank of Nova Scotia Price Performance

Shares of Bank of Nova Scotia stock opened at $47.00 on Friday. The Bank of Nova Scotia has a 52-week low of $39.79 and a 52-week high of $55.91. The stock has a market capitalization of $57.06 billion, a price-to-earnings ratio of 10.95, a price-to-earnings-growth ratio of 1.59 and a beta of 1.03. The company has a fifty day moving average of $46.60 and a 200-day moving average of $45.77. 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 data on Tuesday, November 28th. The bank reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.28). The business had revenue of $8.31 billion during the quarter, compared to analysts’ expectations of $5.98 billion. Bank of Nova Scotia had a net margin of 10.47% and a return on equity of 11.87%. Bank of Nova Scotia’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the company posted $1.55 EPS. Equities research analysts expect that The Bank of Nova Scotia will post 4.91 EPS for the current year.

Bank of Nova Scotia Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 29th. Shareholders of record on Wednesday, January 3rd were given a dividend of $0.7773 per share. The ex-dividend date was Tuesday, January 2nd. This represents a $3.11 annualized dividend and a yield of 6.62%. Bank of Nova Scotia’s payout ratio is currently 72.73%.

Bank of Nova Scotia Profile

(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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