The Bank of Nova Scotia (NYSE:BNS) Shares Sold by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. trimmed its position in shares of The Bank of Nova Scotia (NYSE:BNSFree Report) (TSE:BNS) by 16.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,000 shares of the bank’s stock after selling 385 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Bank of Nova Scotia were worth $97,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Marshall Wace LLP lifted its stake in shares of Bank of Nova Scotia by 40.7% in the 2nd quarter. Marshall Wace LLP now owns 545,803 shares of the bank’s stock valued at $27,312,000 after purchasing an additional 157,795 shares during the last quarter. AMF Tjanstepension AB increased its stake in Bank of Nova Scotia by 25.6% in the third quarter. AMF Tjanstepension AB now owns 574,571 shares of the bank’s stock valued at $25,983,000 after acquiring an additional 117,219 shares during the period. Value Partners Investments Inc. increased its stake in Bank of Nova Scotia by 7.7% in the third quarter. Value Partners Investments Inc. now owns 1,433,198 shares of the bank’s stock valued at $64,536,000 after acquiring an additional 101,860 shares during the period. CIBC Asset Management Inc boosted its position in Bank of Nova Scotia by 4.0% in the third quarter. CIBC Asset Management Inc now owns 8,194,388 shares of the bank’s stock valued at $368,423,000 after buying an additional 314,943 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Bank of Nova Scotia by 1.6% in the third quarter. Vanguard Group Inc. now owns 45,691,098 shares of the bank’s stock valued at $2,083,057,000 after buying an additional 725,489 shares in the last quarter. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Nova Scotia Stock Up 0.9 %

Shares of NYSE:BNS opened at $50.29 on Thursday. The Bank of Nova Scotia has a 52 week low of $39.79 and a 52 week high of $51.98. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $61.46 billion, a PE ratio of 11.13, a PEG ratio of 1.67 and a beta of 1.04. The company has a 50 day moving average price of $48.54 and a two-hundred day moving average price of $46.17.

Bank of Nova Scotia (NYSE:BNSGet Free Report) (TSE:BNS) last issued its quarterly earnings data on Tuesday, February 27th. The bank reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.06. Bank of Nova Scotia had a net margin of 10.71% and a return on equity of 11.51%. The company had revenue of $14.13 billion during the quarter, compared to the consensus estimate of $6.01 billion. During the same quarter in the prior year, the firm earned $1.37 earnings per share. Analysts forecast that The Bank of Nova Scotia will post 4.9 earnings per share for the current year.

Bank of Nova Scotia Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Tuesday, April 2nd will be given a dividend of $0.7843 per share. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Monday, April 1st. This represents a $3.14 annualized dividend and a dividend yield of 6.24%. Bank of Nova Scotia’s dividend payout ratio is currently 51.77%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group started coverage on shares of Bank of Nova Scotia in a research report on Thursday, February 22nd. They set a “hold” rating on the stock. Barclays assumed coverage on shares of Bank of Nova Scotia in a report on Wednesday, March 20th. They issued an “underweight” rating and a $70.00 price objective on the stock. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat.com, Bank of Nova Scotia currently has an average rating of “Hold” and a consensus price target of $68.00.

View Our Latest Analysis on Bank of Nova Scotia

Bank of Nova Scotia Company 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.

See Also

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

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