The Bank of Nova Scotia (NYSE:BNS) Shares Purchased by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 102.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,605 shares of the bank’s stock after acquiring an additional 811 shares during the period. EverSource Wealth Advisors LLC’s holdings in Bank of Nova Scotia were worth $83,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in BNS. Norges Bank acquired a new stake in shares of Bank of Nova Scotia in the fourth quarter worth $652,409,000. TD Asset Management Inc increased its position in shares of Bank of Nova Scotia by 23.2% in the fourth quarter. TD Asset Management Inc now owns 19,841,901 shares of the bank’s stock worth $970,577,000 after acquiring an additional 3,731,541 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in shares of Bank of Nova Scotia in the fourth quarter worth $114,447,000. 1832 Asset Management L.P. increased its position in shares of Bank of Nova Scotia by 16.1% in the first quarter. 1832 Asset Management L.P. now owns 17,015,877 shares of the bank’s stock worth $881,082,000 after acquiring an additional 2,361,136 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Bank of Nova Scotia by 17.6% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 14,563,337 shares of the bank’s stock worth $753,658,000 after acquiring an additional 2,178,633 shares in the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Up 1.2 %

NYSE BNS traded up $0.53 during trading hours on Tuesday, reaching $45.24. 803,974 shares of the company traded hands, compared to its average volume of 1,892,061. The Bank of Nova Scotia has a 12 month low of $39.79 and a 12 month high of $51.98. 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 stock has a market capitalization of $55.63 billion, a PE ratio of 10.07, a PEG ratio of 1.70 and a beta of 1.04. The company has a 50 day moving average of $46.32 and a two-hundred day moving average of $47.46.

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

Bank of Nova Scotia Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Shareholders of record on Wednesday, July 3rd were paid a dividend of $0.769 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $3.08 dividend on an annualized basis and a yield of 6.80%. Bank of Nova Scotia’s dividend payout ratio (DPR) is 69.59%.

Analysts Set New Price Targets

BNS has been the subject of several analyst reports. 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 downgraded shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Wednesday, May 29th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, Bank of Nova Scotia currently has an average rating of “Hold” and an average target price of $68.00.

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.