Great West Life Assurance Co. Can cut its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 0.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 12,697,292 shares of the bank’s stock after selling 65,736 shares during the period. Bank of Nova Scotia (The) accounts for 2.0% of Great West Life Assurance Co. Can’s investment portfolio, making the stock its 3rd largest position. Great West Life Assurance Co. Can owned 1.06% of Bank of Nova Scotia (The) worth $761,706,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the stock. Advisory Services Network LLC bought a new stake in shares of Bank of Nova Scotia (The) during the first quarter valued at approximately $111,000. Janney Montgomery Scott LLC bought a new stake in shares of Bank of Nova Scotia (The) during the first quarter valued at approximately $203,000. Park National Corp OH bought a new stake in shares of Bank of Nova Scotia (The) during the first quarter valued at approximately $205,000. Jones Financial Companies Lllp bought a new stake in shares of Bank of Nova Scotia (The) during the first quarter valued at approximately $211,000. Finally, M&T Bank Corp bought a new stake in shares of Bank of Nova Scotia (The) during the first quarter valued at approximately $222,000. Hedge funds and other institutional investors own 49.63% of the company’s stock.
Bank of Nova Scotia (NYSE:BNS) opened at 62.03 on Wednesday. The firm’s 50-day moving average is $60.85 and its 200 day moving average is $58.87. The stock has a market capitalization of $74.55 billion, a P/E ratio of 12.43 and a beta of 1.26. Bank of Nova Scotia has a 12-month low of $49.82 and a 12-month high of $63.07.
Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Tuesday, May 30th. The bank reported $1.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.08. The company had revenue of $6.58 billion during the quarter, compared to analyst estimates of $6.73 billion. Bank of Nova Scotia (The) had a return on equity of 14.45% and a net margin of 22.17%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the company earned $1.46 earnings per share. Equities research analysts anticipate that Bank of Nova Scotia will post $5.13 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 27th. Investors of record on Tuesday, July 4th were paid a dividend of $0.5635 per share. This represents a $2.25 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend was Thursday, June 29th. Bank of Nova Scotia (The)’s dividend payout ratio is 46.97%.
Bank of Nova Scotia (The) announced that its board has initiated a stock buyback plan on Tuesday, May 30th that allows the company to buyback 24,000,000 shares. This buyback authorization allows the bank to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
COPYRIGHT VIOLATION NOTICE: “Bank of Nova Scotia (The) (NYSE:BNS) is Great West Life Assurance Co. Can’s 3rd Largest Position” was first reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright law. The original version of this story can be read at https://stocknewstimes.com/2017/08/02/bank-of-nova-scotia-the-nysebns-is-great-west-life-assurance-co-cans-3rd-largest-position.html.
Several analysts recently commented on BNS shares. Bank of America Corporation raised their price objective on shares of Bank of Nova Scotia (The) from $81.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, May 31st. Zacks Investment Research upgraded shares of Bank of Nova Scotia (The) from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research note on Tuesday, July 18th. Canaccord Genuity started coverage on shares of Bank of Nova Scotia (The) in a research note on Tuesday, July 18th. They issued a “buy” rating for the company. BidaskClub upgraded shares of Bank of Nova Scotia (The) from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Finally, Royal Bank Of Canada raised their price objective on shares of Bank of Nova Scotia (The) from $86.00 to $87.00 and gave the company an “outperform” rating in a research note on Wednesday, May 31st. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Bank of Nova Scotia (The) presently has an average rating of “Buy” and a consensus target price of $74.67.
Bank of Nova Scotia (The) Company Profile
The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank offers a range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.
Want to see what other hedge funds are holding BNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS).
Receive News & Ratings for Bank of Nova Scotia (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Nova Scotia (The) and related companies with MarketBeat.com's FREE daily email newsletter.
