Meag Munich Ergo Kapitalanlagegesellschaft MBH Lowers Holdings in Bank of Nova Scotia (NYSE:BNS)

Meag Munich Ergo Kapitalanlagegesellschaft MBH decreased its stake in shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 50.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 67,380 shares of the bank’s stock after selling 68,530 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Bank of Nova Scotia were worth $3,382,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BNS. Bank of Montreal Can increased its position in shares of Bank of Nova Scotia by 8.0% in the third quarter. Bank of Montreal Can now owns 50,478,972 shares of the bank’s stock worth $3,010,061,000 after acquiring an additional 3,741,346 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Bank of Nova Scotia by 3.9% in the third quarter. Vanguard Group Inc. now owns 32,022,181 shares of the bank’s stock worth $1,909,483,000 after acquiring an additional 1,199,502 shares during the period. Vanguard Group Inc boosted its position in shares of Bank of Nova Scotia by 3.9% during the third quarter. Vanguard Group Inc now owns 32,022,181 shares of the bank’s stock valued at $1,909,483,000 after buying an additional 1,199,502 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Bank of Nova Scotia by 0.9% during the 3rd quarter. Great West Life Assurance Co. Can now owns 14,097,135 shares of the bank’s stock valued at $841,305,000 after buying an additional 119,591 shares during the last quarter. Finally, Nordea Investment Management AB purchased a new position in shares of Bank of Nova Scotia in the 3rd quarter worth about $650,249,000. 46.62% of the stock is owned by institutional investors.

Shares of NYSE:BNS opened at $56.29 on Thursday. The firm has a market capitalization of $69.17 billion, a P/E ratio of 10.35, a P/E/G ratio of 1.55 and a beta of 1.19. Bank of Nova Scotia has a 52-week low of $48.34 and a 52-week high of $63.53. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.09.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Tuesday, November 27th. The bank reported $1.35 EPS for the quarter, hitting analysts’ consensus estimates of $1.35. Bank of Nova Scotia had a return on equity of 14.31% and a net margin of 21.04%. The firm had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.64 billion. During the same quarter last year, the business posted $1.64 EPS. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. Sell-side analysts predict that Bank of Nova Scotia will post 5.68 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 29th. Shareholders of record on Wednesday, January 2nd were issued a dividend of $0.646 per share. This represents a $2.58 annualized dividend and a yield of 4.59%. The ex-dividend date was Monday, December 31st. Bank of Nova Scotia’s dividend payout ratio is currently 45.77%.

BNS has been the subject of several recent analyst reports. Zacks Investment Research lowered Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research report on Tuesday, October 30th. Desjardins reaffirmed an “average” rating and issued a $85.00 price target on shares of Bank of Nova Scotia in a report on Thursday, November 8th. Barclays reaffirmed an “average” rating and issued a $85.00 target price on shares of Bank of Nova Scotia in a research report on Friday, November 16th. TD Securities reissued a “buy” rating on shares of Bank of Nova Scotia in a report on Monday, November 19th. Finally, Canaccord Genuity restated a “hold” rating on shares of Bank of Nova Scotia in a research report on Thursday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $80.50.

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Bank of Nova Scotia Profile

The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.

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Institutional Ownership by Quarter for Bank of Nova Scotia (NYSE:BNS)

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