Foguth Wealth Management LLC. Invests $905,000 in The Bank of Nova Scotia (NYSE:BNS)

Foguth Wealth Management LLC. acquired a new position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 17,485 shares of the bank’s stock, valued at approximately $905,000.

Other hedge funds have also recently made changes to their positions in the company. US Bancorp DE boosted its stake in shares of Bank of Nova Scotia by 2.5% in the fourth quarter. US Bancorp DE now owns 68,826 shares of the bank’s stock worth $3,351,000 after acquiring an additional 1,660 shares during the period. Wellington Management Group LLP lifted its position in shares of Bank of Nova Scotia by 1.5% in the fourth quarter. Wellington Management Group LLP now owns 2,280,248 shares of the bank’s stock worth $111,232,000 after buying an additional 33,490 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Bank of Nova Scotia by 1.6% in the third quarter. Vanguard Group Inc. now owns 45,691,098 shares of the bank’s stock worth $2,083,057,000 after buying an additional 725,489 shares in the last quarter. Prudential PLC lifted its position in shares of Bank of Nova Scotia by 141.7% in the fourth quarter. Prudential PLC now owns 38,482 shares of the bank’s stock worth $1,873,000 after buying an additional 22,561 shares in the last quarter. Finally, Eldred Rock Partners LLC raised its position in Bank of Nova Scotia by 96.8% during the first quarter. Eldred Rock Partners LLC now owns 45,411 shares of the bank’s stock valued at $2,351,000 after purchasing an additional 22,341 shares during the period. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Up 0.3 %

Shares of NYSE BNS traded up $0.15 during midday trading on Friday, hitting $45.72. The company’s stock had a trading volume of 2,912,331 shares, compared to its average volume of 1,559,054. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57. The business’s 50 day moving average is $46.96 and its two-hundred day moving average is $47.65. The Bank of Nova Scotia has a 12-month low of $39.79 and a 12-month high of $51.98. The firm has a market cap of $56.22 billion, a P/E ratio of 10.30, a price-to-earnings-growth ratio of 1.69 and a beta of 1.05.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings results on Tuesday, May 28th. The bank reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.02. Bank of Nova Scotia had a return on equity of 11.40% and a net margin of 10.40%. The firm had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $6.10 billion. As a group, equities research analysts expect that The Bank of Nova Scotia will post 4.82 EPS for the current year.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Wednesday, July 3rd will be issued a $0.769 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $3.08 annualized dividend and a dividend yield of 6.73%. Bank of Nova Scotia’s payout ratio is 70.72%.

Wall Street Analysts Forecast Growth

BNS has been the topic of a number of recent research reports. StockNews.com downgraded Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research report on Wednesday, May 29th. Barclays initiated coverage on Bank of Nova Scotia in a research report on Wednesday, March 20th. They set an “underweight” rating and a $70.00 price objective on the stock. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, Bank of Nova Scotia has a consensus rating of “Hold” and a consensus 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.