Mn Services Vermogensbeheer B.V. Reduces Position in The Bank of Nova Scotia (NYSE:BNS)

Mn Services Vermogensbeheer B.V. lessened its holdings in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 4.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 261,300 shares of the bank’s stock after selling 11,500 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Bank of Nova Scotia were worth $14,253,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BNS. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Bank of Nova Scotia by 1.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,432 shares of the bank’s stock valued at $799,000 after purchasing an additional 219 shares in the last quarter. First Trust Direct Indexing L.P. raised its stake in shares of Bank of Nova Scotia by 6.6% during the 1st quarter. First Trust Direct Indexing L.P. now owns 6,700 shares of the bank’s stock worth $347,000 after buying an additional 415 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Bank of Nova Scotia by 50.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 11,563 shares of the bank’s stock valued at $599,000 after buying an additional 3,884 shares in the last quarter. Gold Investment Management Ltd. grew its stake in Bank of Nova Scotia by 0.3% in the 1st quarter. Gold Investment Management Ltd. now owns 111,564 shares of the bank’s stock valued at $5,773,000 after acquiring an additional 292 shares during the period. Finally, Signaturefd LLC grew its stake in Bank of Nova Scotia by 23.9% in the 1st quarter. Signaturefd LLC now owns 19,395 shares of the bank’s stock valued at $1,004,000 after acquiring an additional 3,735 shares during the period. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Up 2.2 %

Shares of BNS stock opened at $53.04 on Tuesday. The stock’s fifty day moving average is $52.30 and its two-hundred day moving average is $48.66. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $65.64 billion, a P/E ratio of 12.69, a PEG ratio of 1.63 and a beta of 1.05. The Bank of Nova Scotia has a fifty-two week low of $41.80 and a fifty-two week high of $55.12.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Tuesday, August 27th. The bank reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.01. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. The company had revenue of $8.36 billion for the quarter, compared to analyst estimates of $8.53 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. Research 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 company also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Wednesday, October 2nd were given a dividend of $0.768 per share. This represents a $3.07 annualized dividend and a dividend yield of 5.79%. The ex-dividend date was Wednesday, October 2nd. Bank of Nova Scotia’s payout ratio is presently 74.88%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BNS. TD Securities raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Monday. Cibc World Mkts upgraded shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $69.00.

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.