M&R Capital Management Inc. Sells 600 Shares of The Bank of Nova Scotia (NYSE:BNS)


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M&R Capital Management Inc. cut its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 21.2% during the first quarter, Holdings Channel.com reports. The fund owned 2,230 shares of the bank’s stock after selling 600 shares during the period. M&R Capital Management Inc.’s holdings in The Bank of Nova Scotia were worth $139,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Norges Bank bought a new stake in The Bank of Nova Scotia during the fourth quarter valued at about $651,730,000. The Manufacturers Life Insurance Company grew its position in shares of The Bank of Nova Scotia by 19.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 10,227,897 shares of the bank’s stock valued at $703,680,000 after purchasing an additional 1,687,653 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of The Bank of Nova Scotia by 8.1% during the fourth quarter. CIBC Asset Management Inc now owns 7,218,680 shares of the bank’s stock valued at $389,271,000 after purchasing an additional 543,475 shares in the last quarter. Credit Suisse AG increased its stake in The Bank of Nova Scotia by 12.9% during the fourth quarter. Credit Suisse AG now owns 5,197,546 shares of the bank’s stock worth $280,876,000 after acquiring an additional 595,368 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in The Bank of Nova Scotia by 18.5% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,633,666 shares of the bank’s stock valued at $250,429,000 after purchasing an additional 722,861 shares during the period. 45.88% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have commented on the stock. BMO Capital Markets lifted their price objective on shares of The Bank of Nova Scotia from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 24th. TD Securities boosted their price objective on shares of The Bank of Nova Scotia from $79.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, February 24th. Royal Bank of Canada boosted their price objective on shares of The Bank of Nova Scotia from $77.00 to $84.00 and gave the company an “outperform” rating in a research report on Wednesday, February 24th. Canaccord Genuity boosted their price objective on shares of The Bank of Nova Scotia from $70.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, February 24th. Finally, Barclays upped their price target on shares of The Bank of Nova Scotia from $60.00 to $69.00 and gave the stock an “underweight” rating in a report on Tuesday, February 16th. Two investment analysts have rated the stock with a sell rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $74.73.

BNS stock opened at $61.91 on Thursday. The firm has a market cap of $75.08 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 1.11 and a beta of 0.97. The firm has a 50-day simple moving average of $61.25 and a two-hundred day simple moving average of $52.21. The Bank of Nova Scotia has a one year low of $34.73 and a one year high of $64.38. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.05 and a current ratio of 1.05.

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Monday, February 22nd. The bank reported $1.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.69. The business had revenue of $6.27 billion during the quarter, compared to analyst estimates of $7.58 billion. The Bank of Nova Scotia had a net margin of 15.57% and a return on equity of 10.47%. During the same period in the prior year, the firm posted $1.83 earnings per share. As a group, equities analysts predict that The Bank of Nova Scotia will post 4.73 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 28th. Investors of record on Tuesday, April 6th will be given a $0.7133 dividend. This is a positive change from The Bank of Nova Scotia’s previous quarterly dividend of $0.68. This represents a $2.85 annualized dividend and a dividend yield of 4.61%. The ex-dividend date is Monday, April 5th. The Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 70.93%.

The 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 Banking and Markets, and Global Wealth Management segments.

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

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