MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 40,714 Shares of The Bank of Nova Scotia (NYSE:BNS)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 95.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,065 shares of the bank’s stock after selling 40,714 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Bank of Nova Scotia were worth $94,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tobam boosted its position in shares of Bank of Nova Scotia by 49.7% during the first quarter. Tobam now owns 4,130 shares of the bank’s stock valued at $214,000 after buying an additional 1,371 shares during the period. US Bancorp DE lifted its holdings in Bank of Nova Scotia by 2.5% during the 4th quarter. US Bancorp DE now owns 68,826 shares of the bank’s stock valued at $3,351,000 after buying an additional 1,660 shares in the last quarter. Wellington Management Group LLP grew its stake in Bank of Nova Scotia by 1.5% in the 4th quarter. Wellington Management Group LLP now owns 2,280,248 shares of the bank’s stock worth $111,232,000 after acquiring an additional 33,490 shares in the last quarter. Prudential PLC boosted its holdings in shares of Bank of Nova Scotia by 141.7% in the fourth quarter. Prudential PLC now owns 38,482 shares of the bank’s stock valued at $1,873,000 after purchasing an additional 22,561 shares during the period. Finally, Foguth Wealth Management LLC. bought a new position in Bank of Nova Scotia in the first quarter worth approximately $905,000. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Nova Scotia Trading Up 1.3 %

NYSE:BNS opened at $49.88 on Monday. The company has a market capitalization of $61.72 billion, a P/E ratio of 11.23, a PEG ratio of 1.58 and a beta of 1.04. The company has a current ratio of 1.02, a quick ratio of 1.03 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $46.54 and a 200-day simple moving average of $47.57. 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, August 27th. The bank reported $1.63 EPS for the quarter, beating the consensus estimate of $1.62 by $0.01. The business had revenue of $8.36 billion during the quarter, compared to analysts’ expectations of $8.53 billion. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.30 EPS. On average, equities research analysts anticipate that The Bank of Nova Scotia will post 4.8 earnings per share for the current year.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.768 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $3.07 dividend on an annualized basis and a yield of 6.16%. Bank of Nova Scotia’s dividend payout ratio is currently 69.82%.

Analyst Upgrades and Downgrades

BNS has been the topic of several research reports. UBS Group started coverage on shares of Bank of Nova Scotia in a report on Tuesday, July 2nd. They set a “neutral” rating on the stock. StockNews.com lowered shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research report on Wednesday, May 29th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat, Bank of Nova Scotia has a consensus rating of “Hold” and an average price target of $69.00.

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.