The Bank of Nova Scotia (NYSE:BNS) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. cut its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 68.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,003,657 shares of the bank’s stock after selling 2,134,044 shares during the quarter. Franklin Resources Inc. owned about 0.08% of Bank of Nova Scotia worth $48,858,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Fifth Third Bancorp boosted its position in shares of Bank of Nova Scotia by 71.6% in the 4th quarter. Fifth Third Bancorp now owns 858 shares of the bank’s stock worth $42,000 after buying an additional 358 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Bank of Nova Scotia by 135.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 919 shares of the bank’s stock worth $42,000 after buying an additional 529 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Bank of Nova Scotia in the 3rd quarter worth about $42,000. NBC Securities Inc. purchased a new stake in shares of Bank of Nova Scotia in the 3rd quarter worth about $67,000. Finally, Motco boosted its position in shares of Bank of Nova Scotia by 1,086.2% in the 3rd quarter. Motco now owns 2,491 shares of the bank’s stock worth $114,000 after buying an additional 2,281 shares in the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BNS has been the topic of several recent research reports. Barclays began coverage on shares of Bank of Nova Scotia in a research report on Wednesday, March 20th. They issued an “underweight” rating and a $70.00 price objective on the stock. Jefferies Financial Group began coverage on shares of Bank of Nova Scotia in a report on Thursday, February 22nd. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $68.00.

Bank of Nova Scotia Price Performance

NYSE:BNS opened at $47.78 on Friday. The firm has a market cap of $58.75 billion, a price-to-earnings ratio of 10.57, a price-to-earnings-growth ratio of 1.84 and a beta of 1.06. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.56. The company’s 50-day moving average is $48.43 and its two-hundred day moving average is $47.21. 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 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the firm posted $1.37 EPS. Research analysts expect that The Bank of Nova Scotia will post 4.88 EPS for the current year.

Bank of Nova Scotia Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Tuesday, April 2nd were issued a dividend of $0.7843 per share. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.78. This represents a $3.14 annualized dividend and a dividend yield of 6.57%. The ex-dividend date was Monday, April 1st. Bank of Nova Scotia’s dividend payout ratio is presently 69.47%.

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.