Glassman Wealth Services Sells 449 Shares of The Bank of Nova Scotia (NYSE:BNS)

Glassman Wealth Services lowered its position in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 42.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 605 shares of the bank’s stock after selling 449 shares during the quarter. Glassman Wealth Services’ holdings in Bank of Nova Scotia were worth $29,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Bank of Nova Scotia by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 45,691,098 shares of the bank’s stock valued at $2,083,057,000 after acquiring an additional 725,489 shares in the last quarter. Toronto Dominion Bank raised its stake in Bank of Nova Scotia by 3.4% in the third quarter. Toronto Dominion Bank now owns 22,567,680 shares of the bank’s stock valued at $1,028,861,000 after purchasing an additional 736,807 shares in the last quarter. Mackenzie Financial Corp raised its stake in Bank of Nova Scotia by 8.7% in the third quarter. Mackenzie Financial Corp now owns 15,684,313 shares of the bank’s stock valued at $665,191,000 after purchasing an additional 1,256,868 shares in the last quarter. Norges Bank bought a new stake in Bank of Nova Scotia during the fourth quarter valued at approximately $652,409,000. Finally, Scotia Capital Inc. grew its stake in Bank of Nova Scotia by 1.4% in the 3rd quarter. Scotia Capital Inc. now owns 13,387,765 shares of the bank’s stock worth $600,211,000 after buying an additional 183,008 shares in the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Up 0.0 %

Bank of Nova Scotia stock traded up $0.02 during mid-day trading on Thursday, hitting $46.30. The company’s stock had a trading volume of 1,795,934 shares, compared to its average volume of 2,076,160. The business has a 50 day moving average price of $48.87 and a 200-day moving average price of $46.52. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.03 and a quick ratio of 1.03. The Bank of Nova Scotia has a 12 month low of $39.79 and a 12 month high of $51.98. The stock has a market cap of $56.59 billion, a price-to-earnings ratio of 10.24, a price-to-earnings-growth ratio of 1.52 and a beta of 1.05.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Tuesday, February 27th. The bank reported $1.25 EPS for the quarter, topping the consensus estimate of $1.19 by $0.06. The firm had revenue of $14.13 billion for the quarter, compared to the consensus estimate of $6.01 billion. Bank of Nova Scotia had a return on equity of 11.51% and a net margin of 10.71%. During the same quarter in the previous year, the business earned $1.37 earnings per share. As a group, analysts forecast that The Bank of Nova Scotia will post 4.9 EPS for the current year.

Bank of Nova Scotia Increases Dividend

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

Wall Street Analysts Forecast Growth

BNS has been the topic of several research reports. Jefferies Financial Group began coverage on shares of Bank of Nova Scotia in a research report on Thursday, February 22nd. They set a “hold” rating on the stock. Barclays started coverage on Bank of Nova Scotia in a research note on Wednesday, March 20th. They set an “underweight” rating and a $70.00 price target for the company. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, Bank of Nova Scotia currently has a consensus rating of “Hold” and an average price target of $68.00.

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 Wealth Management, and Global Banking and Markets segments.