DekaBank Deutsche Girozentrale Boosts Stake in The Bank of Nova Scotia (NYSE:BNS)

DekaBank Deutsche Girozentrale grew its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 276,325 shares of the bank’s stock after purchasing an additional 4,836 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Bank of Nova Scotia were worth $12,614,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Private Advisor Group LLC purchased a new position in Bank of Nova Scotia during the fourth quarter worth about $280,000. BNP Paribas Financial Markets raised its position in Bank of Nova Scotia by 230.8% in the fourth quarter. BNP Paribas Financial Markets now owns 74,149 shares of the bank’s stock valued at $3,610,000 after purchasing an additional 51,736 shares during the period. Avantax Advisory Services Inc. lifted its stake in Bank of Nova Scotia by 10.0% during the fourth quarter. Avantax Advisory Services Inc. now owns 24,368 shares of the bank’s stock worth $1,186,000 after purchasing an additional 2,206 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Bank of Nova Scotia during the fourth quarter worth $223,000. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of Bank of Nova Scotia by 15.2% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 17,105 shares of the bank’s stock valued at $833,000 after buying an additional 2,252 shares in the last quarter. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Bank of Nova Scotia Trading Up 0.6 %

BNS opened at $52.04 on Monday. The business has a fifty day moving average price of $47.63 and a 200 day moving average price of $47.81. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 1.02. The Bank of Nova Scotia has a 12 month low of $39.79 and a 12 month high of $52.10. The stock has a market capitalization of $63.99 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 1.64 and a beta of 1.04.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Tuesday, August 27th. The bank reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.01. The firm had revenue of $8.36 billion for the quarter, compared to analysts’ expectations of $8.53 billion. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.30 earnings per share. Sell-side analysts expect that The Bank of Nova Scotia will post 4.8 earnings per share for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd will be issued a dividend of $0.768 per share. This represents a $3.07 dividend on an annualized basis and a yield of 5.90%. The ex-dividend date of this dividend is Wednesday, October 2nd. Bank of Nova Scotia’s dividend payout ratio (DPR) is 70.72%.

Bank of Nova Scotia 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.