The Bank of Nova Scotia (NYSE:BNS) Short Interest Update

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 30,220,000 shares, a growth of 18.3% from the March 15th total of 25,550,000 shares. Currently, 2.5% of the company’s shares are short sold. Based on an average daily trading volume, of 2,070,000 shares, the days-to-cover ratio is presently 14.6 days.

Wall Street Analyst Weigh In

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

Institutional Trading of Bank of Nova Scotia

Several hedge funds have recently added to or reduced their stakes in the business. Harbour Investments Inc. raised its stake in Bank of Nova Scotia by 10.2% during the 4th quarter. Harbour Investments Inc. now owns 2,115 shares of the bank’s stock valued at $104,000 after acquiring an additional 195 shares in the last quarter. Cetera Investment Advisers raised its stake in Bank of Nova Scotia by 3.7% during the 1st quarter. Cetera Investment Advisers now owns 5,548 shares of the bank’s stock valued at $398,000 after acquiring an additional 196 shares in the last quarter. First Manhattan Co. raised its stake in Bank of Nova Scotia by 5.1% during the 4th quarter. First Manhattan Co. now owns 4,204 shares of the bank’s stock valued at $206,000 after acquiring an additional 204 shares in the last quarter. Cetera Advisor Networks LLC increased its position in shares of Bank of Nova Scotia by 4.7% during the 2nd quarter. Cetera Advisor Networks LLC now owns 4,772 shares of the bank’s stock valued at $239,000 after purchasing an additional 214 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Bank of Nova Scotia by 1.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,432 shares of the bank’s stock valued at $799,000 after purchasing an additional 219 shares during the period. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Performance

Bank of Nova Scotia stock opened at $47.48 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.03 and a quick ratio of 1.03. Bank of Nova Scotia has a 12 month low of $39.79 and a 12 month high of $51.98. The company has a market cap of $58.03 billion, a price-to-earnings ratio of 10.50, a price-to-earnings-growth ratio of 1.60 and a beta of 1.04. The stock’s 50-day moving average is $48.96 and its 200-day moving average is $46.30.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its earnings results on Tuesday, February 27th. The bank reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.01 billion. During the same quarter last year, the firm earned $1.37 earnings per share. Equities analysts anticipate that Bank of Nova Scotia will post 4.9 earnings per share for the current year.

Bank of Nova Scotia Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Tuesday, April 2nd will be issued a $0.7843 dividend. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Monday, April 1st. This represents a $3.14 annualized dividend and a dividend yield of 6.61%. Bank of Nova Scotia’s dividend payout ratio (DPR) is 34.96%.

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.