United Services Automobile Association Has $2.05 Million Holdings in The Bank of Nova Scotia (NYSE:BNS)

United Services Automobile Association raised its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 8.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,884 shares of the bank’s stock after acquiring an additional 3,634 shares during the period. United Services Automobile Association’s holdings in Bank of Nova Scotia were worth $2,053,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its stake in Bank of Nova Scotia by 1.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,432 shares of the bank’s stock valued at $799,000 after buying an additional 219 shares during the last quarter. Power Corp of Canada increased its position in shares of Bank of Nova Scotia by 1.9% in the fourth quarter. Power Corp of Canada now owns 12,037 shares of the bank’s stock valued at $587,000 after acquiring an additional 226 shares during the last quarter. Bruce G. Allen Investments LLC raised its holdings in Bank of Nova Scotia by 70.6% during the first quarter. Bruce G. Allen Investments LLC now owns 585 shares of the bank’s stock worth $30,000 after acquiring an additional 242 shares in the last quarter. Pacifica Partners Inc. boosted its position in Bank of Nova Scotia by 1.5% during the second quarter. Pacifica Partners Inc. now owns 19,493 shares of the bank’s stock valued at $889,000 after purchasing an additional 288 shares during the last quarter. Finally, Gold Investment Management Ltd. increased its position in shares of Bank of Nova Scotia by 0.3% during the 1st quarter. Gold Investment Management Ltd. now owns 111,564 shares of the bank’s stock worth $5,773,000 after purchasing an additional 292 shares during the last quarter. 49.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Bank of Nova Scotia Stock Performance

NYSE BNS opened at $51.30 on Tuesday. The stock has a market cap of $63.07 billion, a PE ratio of 11.55, a P/E/G ratio of 1.60 and a beta of 1.04. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a 50-day moving average of $47.13 and a 200-day moving average of $47.70. The Bank of Nova Scotia has a 52-week low of $39.79 and a 52-week high of $51.98.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Tuesday, August 27th. The bank reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.01. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. The business had revenue of $8.36 billion during the quarter, compared to analysts’ expectations of $8.53 billion. During the same period last year, the firm posted $1.30 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, sell-side analysts anticipate that The Bank of Nova Scotia will post 4.8 EPS for the current year.

Bank of Nova Scotia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd will be issued a $0.768 dividend. This represents a $3.07 dividend on an annualized basis and a yield of 5.99%. The ex-dividend date is Wednesday, October 2nd. Bank of Nova Scotia’s dividend payout ratio is currently 69.14%.

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.