Koshinski Asset Management Inc. Invests $341,000 in The Bank of Nova Scotia (NYSE:BNS)

Koshinski Asset Management Inc. purchased a new position in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 7,000 shares of the bank’s stock, valued at approximately $341,000.

Several other institutional investors also recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its holdings in Bank of Nova Scotia by 135.6% during the third quarter. EverSource Wealth Advisors LLC now owns 919 shares of the bank’s stock valued at $42,000 after purchasing an additional 529 shares during the period. Quantbot Technologies LP acquired a new position in Bank of Nova Scotia during the third quarter valued at approximately $42,000. Fifth Third Bancorp grew its holdings in Bank of Nova Scotia by 71.6% during the fourth quarter. Fifth Third Bancorp now owns 858 shares of the bank’s stock valued at $42,000 after purchasing an additional 358 shares during the period. NBC Securities Inc. acquired a new position in Bank of Nova Scotia during the third quarter valued at approximately $67,000. Finally, Belpointe Asset Management LLC grew its holdings in Bank of Nova Scotia by 1,225.9% during the first quarter. Belpointe Asset Management LLC now owns 1,843 shares of the bank’s stock valued at $93,000 after purchasing an additional 1,704 shares during the period. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $47.48 on Tuesday. The company’s fifty day simple moving average is $48.96 and its 200-day simple moving average is $46.30. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.56. The firm has a market cap of $58.03 billion, a PE ratio of 10.50, a P/E/G ratio of 1.60 and a beta of 1.04. The Bank of Nova Scotia has a 12 month low of $39.79 and a 12 month high of $51.98.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Tuesday, February 27th. The bank reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.06. The business had revenue of $14.13 billion for the quarter, compared to analyst estimates of $6.01 billion. Bank of Nova Scotia had a net margin of 10.71% and a return on equity of 11.51%. During the same quarter in the previous year, the firm posted $1.37 earnings per share. Equities research analysts expect that The Bank of Nova Scotia will post 4.9 EPS for the current fiscal year.

Bank of Nova Scotia Increases Dividend

The firm 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 $0.7843 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 6.61%. The ex-dividend date is Monday, April 1st. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.78. Bank of Nova Scotia’s payout ratio is currently 34.96%.

Analyst Ratings Changes

Several research firms have recently weighed in on BNS. Barclays began 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 target for the company. Jefferies Financial Group began coverage on shares of Bank of Nova Scotia in a report on Thursday, February 22nd. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $68.00.

Bank of Nova Scotia Company Profile

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.