Bank of Nova Scotia (NYSE:BNS) Position Boosted by Wetherby Asset Management Inc.

Wetherby Asset Management Inc. grew its holdings in shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 10.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,456 shares of the bank’s stock after purchasing an additional 1,626 shares during the period. Wetherby Asset Management Inc.’s holdings in Bank of Nova Scotia were worth $949,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. Cardinal Capital Management boosted its position in shares of Bank of Nova Scotia by 0.6% during the 1st quarter. Cardinal Capital Management now owns 48,722 shares of the bank’s stock valued at $2,595,000 after purchasing an additional 312 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in shares of Bank of Nova Scotia by 2.8% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 12,100 shares of the bank’s stock valued at $645,000 after purchasing an additional 325 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in shares of Bank of Nova Scotia by 1.5% during the 1st quarter. Gulf International Bank UK Ltd now owns 23,900 shares of the bank’s stock valued at $1,255,000 after purchasing an additional 350 shares in the last quarter. Atlas Capital Advisors LLC boosted its position in shares of Bank of Nova Scotia by 456.6% during the 1st quarter. Atlas Capital Advisors LLC now owns 462 shares of the bank’s stock valued at $25,000 after purchasing an additional 379 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of Bank of Nova Scotia by 4.6% during the 2nd quarter. Quadrant Capital Group LLC now owns 9,104 shares of the bank’s stock valued at $486,000 after purchasing an additional 401 shares in the last quarter. Institutional investors own 45.13% of the company’s stock.

Several equities analysts have recently weighed in on the stock. Barclays restated an “average” rating and set a $78.00 price objective on shares of Bank of Nova Scotia in a research report on Thursday, May 30th. ValuEngine lowered shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, Zacks Investment Research upgraded shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $77.75.

Shares of BNS traded up $0.08 during midday trading on Wednesday, hitting $51.66. The stock had a trading volume of 80,045 shares, compared to its average volume of 594,657. Bank of Nova Scotia has a fifty-two week low of $48.34 and a fifty-two week high of $60.60. The stock’s 50-day moving average price is $53.59. The company has a market capitalization of $62.92 billion, a price-to-earnings ratio of 9.49, a P/E/G ratio of 1.99 and a beta of 1.16. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its earnings results on Tuesday, May 28th. The bank reported $1.70 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.04). Bank of Nova Scotia had a return on equity of 13.55% and a net margin of 19.20%. The firm had revenue of $7.80 billion during the quarter, compared to analyst estimates of $7.60 billion. During the same quarter in the previous year, the business earned $1.70 earnings per share. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities analysts anticipate that Bank of Nova Scotia will post 5.26 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 29th. Shareholders of record on Tuesday, July 2nd were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 5.03%. The ex-dividend date was Friday, June 28th. Bank of Nova Scotia’s payout ratio is 48.90%.

Bank of Nova Scotia Company 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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