Bank of Nova Scotia (The) $BNS Stock: Guardian Partners Inc. Decreases Holdings

Guardian Partners Inc. decreased its position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 1.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 539,999 shares of the bank’s stock after selling 6,954 shares during the quarter. Bank of Nova Scotia makes up approximately 4.4% of Guardian Partners Inc.’s portfolio, making the stock its 3rd largest holding. Guardian Partners Inc.’s holdings in Bank of Nova Scotia were worth $49,220,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 55 North Private Wealth LLC lifted its holdings in shares of Bank of Nova Scotia by 4.6% in the 3rd quarter. 55 North Private Wealth LLC now owns 2,576 shares of the bank’s stock valued at $234,000 after purchasing an additional 114 shares during the last quarter. Versant Capital Management Inc grew its stake in Bank of Nova Scotia by 1.2% during the 3rd quarter. Versant Capital Management Inc now owns 10,460 shares of the bank’s stock worth $950,000 after buying an additional 119 shares during the last quarter. Riversedge Advisors LLC grew its stake in Bank of Nova Scotia by 4.6% during the 3rd quarter. Riversedge Advisors LLC now owns 2,825 shares of the bank’s stock worth $257,000 after buying an additional 125 shares during the last quarter. Greenspring Advisors LLC increased its position in Bank of Nova Scotia by 7.9% during the second quarter. Greenspring Advisors LLC now owns 3,778 shares of the bank’s stock worth $328,000 after buying an additional 275 shares during the period. Finally, Kathmere Capital Management LLC increased its position in Bank of Nova Scotia by 8.5% during the first quarter. Kathmere Capital Management LLC now owns 3,579 shares of the bank’s stock worth $248,000 after buying an additional 281 shares during the period. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Performance

BNS traded up $1.62 on Wednesday, hitting $93.90. 217,504 shares of the company traded hands, compared to its average volume of 2,305,419. The company has a 50 day moving average of $91.54 and a 200-day moving average of $85.20. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.98. The stock has a market capitalization of $114.26 billion, a PE ratio of 16.97, a PEG ratio of 1.02 and a beta of 1.14. Bank of Nova Scotia has a 12-month low of $64.07 and a 12-month high of $95.74.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Tuesday, August 25th. The bank reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.11. Bank of Nova Scotia had a return on equity of 16.12% and a net margin of 13.91%. The company had revenue of $7.52 billion during the quarter, compared to analysts’ expectations of $7.11 billion. During the same period last year, the firm earned $1.84 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. Sell-side analysts anticipate that Bank of Nova Scotia will post 6.19 earnings per share for the current year.

Bank of Nova Scotia Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Tuesday, October 6th will be paid 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 dividend payout ratio is 57.87%.

Wall Street Analyst Weigh In

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