Bank of Nova Scotia (The) $BNS Stock Sold by Guardian Partners Inc.

Guardian Partners Inc. decreased its holdings in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 539,999 shares of the bank’s stock after selling 6,954 shares during the period. Bank of Nova Scotia comprises approximately 4.4% of Guardian Partners Inc.’s portfolio, making the stock its 3rd largest position. Guardian Partners Inc.’s holdings in Bank of Nova Scotia were worth $49,220,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Squarepoint Ops LLC acquired a new position in Bank of Nova Scotia during the 2nd quarter worth $6,974,000. PensionDanmark Pensionsforsikringsaktieselskab boosted its stake in shares of Bank of Nova Scotia by 9.3% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 178,226 shares of the bank’s stock valued at $15,460,000 after buying an additional 15,100 shares during the period. Wellington Management Group LLP purchased a new position in shares of Bank of Nova Scotia in the 2nd quarter valued at about $354,379,000. Bank of America Corp DE purchased a new position in shares of Bank of Nova Scotia in the 2nd quarter valued at about $224,782,000. Finally, Andra AP fonden grew its position in shares of Bank of Nova Scotia by 2.7% during the second quarter. Andra AP fonden now owns 220,260 shares of the bank’s stock worth $19,127,000 after buying an additional 5,700 shares in the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Up 1.8%

Shares of NYSE BNS traded up $1.62 during midday trading on Wednesday, hitting $93.90. 217,504 shares of the company’s stock were exchanged, compared to its average volume of 2,305,419. The firm’s fifty day simple moving average is $91.54 and its 200-day simple moving average is $85.20. The company has a market cap of $114.26 billion, a PE ratio of 16.97, a P/E/G ratio of 1.02 and a beta of 1.14. Bank of Nova Scotia has a twelve month low of $64.07 and a twelve month high of $95.74. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.04 and a quick ratio of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings results on Tuesday, August 25th. The bank reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.11. The firm had revenue of $7.52 billion during the quarter, compared to the consensus estimate of $7.11 billion. Bank of Nova Scotia had a return on equity of 16.12% and a net margin of 13.91%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.84 earnings per share. Research analysts predict that Bank of Nova Scotia will post 6.19 EPS for the current fiscal year.

Bank of Nova Scotia Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Tuesday, October 6th will be given a dividend of C$1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Tuesday, October 6th. Bank of Nova Scotia’s payout ratio is currently 57.87%.

Analysts Set New Price Targets

A number of analysts recently weighed in on BNS shares. National Bank Financial upgraded shares of Bank of Nova Scotia from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, August 26th. Keefe, Bruyette & Woods initiated coverage on shares of Bank of Nova Scotia in a report on Friday, August 21st. They set an “outperform” rating for the company. TD Securities upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, August 25th. Weiss Ratings raised shares of Bank of Nova Scotia from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, October 8th. Finally, TD upgraded shares of Bank of Nova Scotia to a “buy” rating in a report on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Bank of Nova Scotia has an average rating of “Moderate Buy” and a consensus price target of $105.50.

About Bank of Nova Scotia

Bank of Nova Scotia, operating under the Scotiabank name, is a Canadian financial services company that provides banking and related services to individuals, businesses, institutions and governments. Its principal businesses include Canadian Banking, International Banking, Global Wealth Management and Global Banking and Markets.

The company offers personal and commercial deposit accounts, mortgages, consumer and business loans, credit cards, payments and other financial products. Through its wealth management operations, Scotiabank provides investment, advisory, brokerage and private banking services.