Guardian Capital LP trimmed its stake in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 2.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,137,734 shares of the bank’s stock after selling 174,113 shares during the quarter. Bank of Nova Scotia (The) accounts for 6.7% of Guardian Capital LP’s portfolio, making the stock its 2nd largest position. Guardian Capital LP owned about 0.59% of Bank of Nova Scotia (The) worth $428,880,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of BNS. Credit Suisse AG raised its position in Bank of Nova Scotia (The) by 135.2% during the first quarter. Credit Suisse AG now owns 4,979,811 shares of the bank’s stock valued at $291,668,000 after acquiring an additional 2,862,657 shares in the last quarter. Public Sector Pension investment Board raised its position in Bank of Nova Scotia (The) by 13,160.8% during the second quarter. Public Sector Pension investment Board now owns 2,380,451 shares of the bank’s stock valued at $142,988,000 after acquiring an additional 2,362,500 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Bank of Nova Scotia (The) by 787.4% during the second quarter. Canada Pension Plan Investment Board now owns 2,312,474 shares of the bank’s stock valued at $138,905,000 after acquiring an additional 2,051,874 shares in the last quarter. Principal Financial Group Inc. bought a new position in Bank of Nova Scotia (The) during the second quarter valued at approximately $117,297,000. Finally, Vanguard Group Inc. raised its position in Bank of Nova Scotia (The) by 4.3% during the second quarter. Vanguard Group Inc. now owns 26,994,461 shares of the bank’s stock valued at $1,623,177,000 after acquiring an additional 1,105,865 shares in the last quarter. 45.12% of the stock is owned by institutional investors and hedge funds.

Shares of Bank of Nova Scotia (NYSE:BNS) traded down 0.19% during midday trading on Friday, hitting $64.25. 1,269,213 shares of the stock traded hands. The company has a market capitalization of $76.99 billion, a PE ratio of 12.17 and a beta of 1.27. The firm’s 50 day moving average price is $61.99 and its 200 day moving average price is $59.32. Bank of Nova Scotia has a 12-month low of $51.21 and a 12-month high of $64.93.

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings results on Tuesday, August 29th. The bank reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.38). Bank of Nova Scotia (The) had a net margin of 22.26% and a return on equity of 14.54%. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter last year, the company posted $1.54 EPS. Analysts expect that Bank of Nova Scotia will post $5.30 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Tuesday, October 3rd will be paid a $0.6294 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend is Monday, October 2nd. This is a boost from Bank of Nova Scotia (The)’s previous quarterly dividend of $0.56. Bank of Nova Scotia (The)’s dividend payout ratio is 46.30%.

Several equities analysts recently weighed in on BNS shares. Scotiabank reaffirmed a “buy” rating and set a $88.00 price objective on shares of Bank of Nova Scotia (The) in a research report on Wednesday, August 30th. Zacks Investment Research raised shares of Bank of Nova Scotia (The) from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research report on Tuesday, July 18th. Canaccord Genuity started coverage on shares of Bank of Nova Scotia (The) in a research report on Tuesday, July 18th. They set a “buy” rating on the stock. BidaskClub raised shares of Bank of Nova Scotia (The) from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Finally, Citigroup Inc. raised shares of Bank of Nova Scotia (The) from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 20th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $83.20.

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Bank of Nova Scotia (The) Company Profile

The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank offers a range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

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

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