Glassman Wealth Services Trims Stock Position in The Bank of Nova Scotia (NYSE:BNS)

Glassman Wealth Services decreased its stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 42.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 605 shares of the bank’s stock after selling 449 shares during the quarter. Glassman Wealth Services’ holdings in Bank of Nova Scotia were worth $29,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Metis Global Partners LLC boosted its position in Bank of Nova Scotia by 0.4% in the 4th quarter. Metis Global Partners LLC now owns 59,065 shares of the bank’s stock worth $2,875,000 after purchasing an additional 258 shares in the last quarter. Pacifica Partners Inc. boosted its holdings in Bank of Nova Scotia by 1.5% during the fourth quarter. Pacifica Partners Inc. now owns 19,185 shares of the bank’s stock worth $851,000 after buying an additional 285 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Bank of Nova Scotia by 71.6% during the 4th quarter. Fifth Third Bancorp now owns 858 shares of the bank’s stock valued at $42,000 after acquiring an additional 358 shares during the period. Exencial Wealth Advisors LLC increased its stake in shares of Bank of Nova Scotia by 2.0% in the 3rd quarter. Exencial Wealth Advisors LLC now owns 21,042 shares of the bank’s stock valued at $959,000 after purchasing an additional 416 shares in the last quarter. Finally, Merit Financial Group LLC raised its holdings in Bank of Nova Scotia by 4.1% in the 4th quarter. Merit Financial Group LLC now owns 11,047 shares of the bank’s stock worth $538,000 after purchasing an additional 434 shares during the period. 49.13% of the stock is owned by institutional investors and hedge funds.

Bank of Nova Scotia Price Performance

Shares of Bank of Nova Scotia stock traded up $0.02 during mid-day trading on Thursday, reaching $46.30. 1,795,934 shares of the stock traded hands, compared to its average volume of 2,076,160. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average of $48.87 and a 200 day moving average of $46.52. The stock has a market capitalization of $56.59 billion, a PE ratio of 10.24, a PEG ratio of 1.52 and a beta of 1.05. The Bank of Nova Scotia has a fifty-two week low of $39.79 and a fifty-two week high of $51.98.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Tuesday, February 27th. The bank reported $1.25 EPS for the quarter, beating the consensus estimate of $1.19 by $0.06. Bank of Nova Scotia had a return on equity of 11.51% and a net margin of 10.71%. The firm had revenue of $14.13 billion during the quarter, compared to the consensus estimate of $6.01 billion. During the same period in the prior year, the company earned $1.37 EPS. On average, analysts predict that The Bank of Nova Scotia will post 4.9 EPS for the current year.

Bank of Nova Scotia Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Tuesday, April 2nd were paid a dividend of $0.7843 per share. This represents a $3.14 annualized dividend and a yield of 6.78%. The ex-dividend date was Monday, April 1st. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.78. Bank of Nova Scotia’s dividend payout ratio is currently 69.47%.

Analyst Upgrades and Downgrades

Several analysts have commented on BNS shares. Jefferies Financial Group began coverage on Bank of Nova Scotia in a report on Thursday, February 22nd. They issued a “hold” rating on the stock. Barclays assumed coverage on shares of Bank of Nova Scotia in a research note on Wednesday, March 20th. They issued an “underweight” rating and a $70.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, Bank of Nova Scotia currently has an average rating of “Hold” and an average target price of $68.00.

About Bank of Nova Scotia

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.