Meag Munich Ergo Kapitalanlagegesellschaft MBH continued to hold its position in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 217,656 shares of the bank’s stock at the end of the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Bank of Nova Scotia (The) were worth $13,111,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Forsta AP Fonden boosted its position in shares of Bank of Nova Scotia (The) by 29.6% in the second quarter. Forsta AP Fonden now owns 210,871 shares of the bank’s stock valued at $12,667,000 after buying an additional 48,100 shares during the period. DORCHESTER WEALTH MANAGEMENT Co boosted its position in shares of Bank of Nova Scotia (The) by 0.7% in the second quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 452,542 shares of the bank’s stock valued at $27,204,000 after buying an additional 3,223 shares during the period. US Bancorp DE boosted its position in shares of Bank of Nova Scotia (The) by 3.4% in the second quarter. US Bancorp DE now owns 74,235 shares of the bank’s stock valued at $4,464,000 after buying an additional 2,423 shares during the period. Bollard Group LLC boosted its position in shares of Bank of Nova Scotia (The) by 1.8% in the second quarter. Bollard Group LLC now owns 43,147 shares of the bank’s stock valued at $2,594,000 after buying an additional 765 shares during the period. Finally, Gradient Investments LLC boosted its position in shares of Bank of Nova Scotia (The) by 5,689.5% in the second quarter. Gradient Investments LLC now owns 13,258 shares of the bank’s stock valued at $797,000 after buying an additional 13,029 shares during the period. Institutional investors own 49.63% of the company’s stock.
Shares of Bank of Nova Scotia (BNS) traded down 0.23% on Friday, hitting $61.87. The stock had a trading volume of 257,743 shares. Bank of Nova Scotia has a one year low of $49.82 and a one year high of $63.07. The company has a market capitalization of $74.36 billion, a P/E ratio of 12.39 and a beta of 1.26. The firm has a 50 day moving average price of $60.85 and a 200 day moving average price of $58.87.
Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings results on Tuesday, May 30th. The bank reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.08. The company had revenue of $6.58 billion for the quarter, compared to the consensus estimate 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 in the prior year, the business posted $1.46 EPS. On average, equities research analysts predict that Bank of Nova Scotia will post $5.13 earnings per share for the current fiscal year.
Bank of Nova Scotia (The) announced that its board has approved a share buyback plan on Tuesday, May 30th that permits the company to repurchase 24,000,000 shares. This repurchase authorization permits the bank to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 27th. Stockholders of record on Tuesday, July 4th were paid a $0.5635 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend was Thursday, June 29th. Bank of Nova Scotia (The)’s dividend payout ratio (DPR) is currently 46.97%.
Several equities analysts have recently issued reports on the company. BidaskClub cut Bank of Nova Scotia (The) from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Zacks Investment Research upgraded Bank of Nova Scotia (The) from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research report on Tuesday, July 18th. Canaccord Genuity began coverage on Bank of Nova Scotia (The) in a research report on Tuesday, July 18th. They set a “buy” rating on the stock. Bank of America Corporation lifted their target price on Bank of Nova Scotia (The) from $81.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, May 31st. Finally, Royal Bank Of Canada lifted their target price on Bank of Nova Scotia (The) from $86.00 to $87.00 and gave the stock an “outperform” rating in a report on Wednesday, May 31st. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $74.67.
About Bank of Nova Scotia (The)
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.
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