The Bank of Nova Scotia (NYSE:BNS) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 14.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 467,102 shares of the bank’s stock after selling 81,512 shares during the quarter. Russell Investments Group Ltd.’s holdings in Bank of Nova Scotia were worth $22,823,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BNS. EverSource Wealth Advisors LLC grew its holdings in shares of Bank of Nova Scotia by 135.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 919 shares of the bank’s stock worth $42,000 after purchasing an additional 529 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Bank of Nova Scotia during the third quarter valued at about $42,000. Fifth Third Bancorp raised its stake in shares of Bank of Nova Scotia by 71.6% in the 4th quarter. Fifth Third Bancorp now owns 858 shares of the bank’s stock valued at $42,000 after acquiring an additional 358 shares during the period. NBC Securities Inc. acquired a new position in shares of Bank of Nova Scotia in the 3rd quarter worth approximately $67,000. Finally, Motco boosted its position in shares of Bank of Nova Scotia by 1,086.2% during the 3rd quarter. Motco now owns 2,491 shares of the bank’s stock worth $114,000 after purchasing an additional 2,281 shares during the period. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BNS shares. Jefferies Financial Group assumed coverage on Bank of Nova Scotia in a research report on Thursday, February 22nd. They issued a “hold” rating on the stock. Barclays initiated coverage on Bank of Nova Scotia in a research note on Wednesday, March 20th. They set an “underweight” rating and a $70.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $68.00.

Bank of Nova Scotia Price Performance

Bank of Nova Scotia stock opened at $46.28 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.56. The Bank of Nova Scotia has a 52-week low of $39.79 and a 52-week high of $51.98. The firm has a market cap of $56.56 billion, a PE ratio of 10.24, a price-to-earnings-growth ratio of 1.54 and a beta of 1.04. The company’s 50 day moving average is $48.87 and its two-hundred day moving average is $46.52.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Tuesday, February 27th. The bank reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.06. Bank of Nova Scotia had a return on equity of 11.51% and a net margin of 10.71%. The business had revenue of $14.13 billion for the quarter, compared to analysts’ expectations of $6.01 billion. During the same period last year, the firm earned $1.37 earnings per share. On average, research analysts expect that The Bank of Nova Scotia will post 4.9 EPS for the current fiscal year.

Bank of Nova Scotia Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Tuesday, April 2nd were given a dividend of $0.7843 per share. The ex-dividend date was Monday, April 1st. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $0.78. This represents a $3.14 dividend on an annualized basis and a dividend yield of 6.78%. Bank of Nova Scotia’s payout ratio is currently 69.47%.

Bank of Nova Scotia Company 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.