Guardian Capital LP Sells 12,349 Shares of The Bank of Nova Scotia (NYSE:BNS)

Guardian Capital LP lessened its holdings in shares of The Bank of Nova Scotia (NYSE:BNSFree Report) (TSE:BNS) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 482,270 shares of the bank’s stock after selling 12,349 shares during the quarter. Guardian Capital LP’s holdings in Bank of Nova Scotia were worth $23,590,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sprott Inc. bought a new stake in shares of Bank of Nova Scotia in the 3rd quarter worth $146,907,000. Toronto Dominion Bank boosted its holdings in shares of Bank of Nova Scotia by 3.4% in the 3rd quarter. Toronto Dominion Bank now owns 22,567,680 shares of the bank’s stock worth $1,028,861,000 after buying an additional 736,807 shares during the last quarter. Vanguard Group Inc. boosted 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 worth $2,083,057,000 after buying an additional 725,489 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Bank of Nova Scotia by 360.3% during the third quarter. Acadian Asset Management LLC now owns 705,200 shares of the bank’s stock valued at $31,753,000 after purchasing an additional 551,992 shares during the last quarter. Finally, Mufg Securities Canada LTD. bought a new stake in shares of Bank of Nova Scotia during the fourth quarter valued at about $24,464,000. Institutional investors own 49.13% of the company’s stock.

Analyst Ratings Changes

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

Get Our Latest Analysis on BNS

Bank of Nova Scotia Stock Performance

Shares of BNS stock traded down $0.10 during trading hours on Tuesday, reaching $48.00. 1,023,904 shares of the company traded hands, compared to its average volume of 1,993,690. The Bank of Nova Scotia has a 12-month low of $39.79 and a 12-month high of $51.98. 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 company has a market cap of $59.01 billion, a P/E ratio of 10.62, a P/E/G ratio of 1.59 and a beta of 1.05. The firm has a 50-day moving average price of $48.76 and a 200 day moving average price of $46.85.

Bank of Nova Scotia (NYSE:BNSGet Free Report) (TSE:BNS) last released its quarterly earnings data on Tuesday, February 27th. The bank reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.06. The business 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 company posted $1.37 EPS. As a group, sell-side analysts predict that The Bank of Nova Scotia will post 4.9 earnings per share for the current fiscal year.

Bank of Nova Scotia Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Tuesday, April 2nd were paid a dividend of $0.7843 per share. This represents a $3.14 annualized dividend and a yield of 6.54%. The ex-dividend date was Monday, April 1st. 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%.

About Bank of Nova Scotia

(Free Report)

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.

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

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