First Affirmative Financial Network Grows Position in The Bank of Nova Scotia (NYSE:BNS)

First Affirmative Financial Network increased its position in The Bank of Nova Scotia (NYSE:BNSFree Report) (TSE:BNS) by 6.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,402 shares of the bank’s stock after purchasing an additional 664 shares during the quarter. First Affirmative Financial Network’s holdings in Bank of Nova Scotia were worth $590,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. US Bancorp DE raised its stake in Bank of Nova Scotia by 2.5% during the fourth quarter. US Bancorp DE now owns 68,826 shares of the bank’s stock valued at $3,351,000 after buying an additional 1,660 shares during the last quarter. Vanguard Group Inc. raised its stake in Bank of Nova Scotia by 1.6% during the third quarter. Vanguard Group Inc. now owns 45,691,098 shares of the bank’s stock valued at $2,083,057,000 after buying an additional 725,489 shares during the last quarter. Prudential PLC raised its stake in Bank of Nova Scotia by 141.7% during the fourth quarter. Prudential PLC now owns 38,482 shares of the bank’s stock valued at $1,873,000 after buying an additional 22,561 shares during the last quarter. Fifth Third Bancorp raised its stake in Bank of Nova Scotia by 71.6% during the fourth quarter. Fifth Third Bancorp now owns 858 shares of the bank’s stock valued at $42,000 after buying an additional 358 shares during the last quarter. Finally, Norges Bank purchased a new position in Bank of Nova Scotia during the fourth quarter valued at $652,409,000. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Down 0.4 %

Shares of BNS stock traded down $0.18 during mid-day trading on Friday, hitting $45.12. The company’s stock had a trading volume of 2,037,658 shares, compared to its average volume of 1,719,502. The Bank of Nova Scotia has a 52-week low of $39.79 and a 52-week high of $51.98. The business has a 50-day moving average price of $47.07 and a 200 day moving average price of $47.59. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $55.48 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 1.68 and a beta of 1.05.

Bank of Nova Scotia (NYSE:BNSGet Free Report) (TSE:BNS) last posted its quarterly earnings results on Tuesday, May 28th. The bank reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.02. Bank of Nova Scotia had a return on equity of 11.40% and a net margin of 10.40%. The firm had revenue of $6.15 billion during the quarter, compared to analysts’ expectations of $6.10 billion. Research analysts predict that The Bank of Nova Scotia will post 4.82 EPS for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Wednesday, July 3rd will be issued a $0.769 dividend. This represents a $3.08 annualized dividend and a dividend yield of 6.82%. The ex-dividend date of this dividend is Wednesday, July 3rd. Bank of Nova Scotia’s payout ratio is currently 70.72%.

Analysts Set New Price Targets

BNS has been the subject of a number of recent research reports. Barclays initiated coverage on Bank of Nova Scotia in a research note on Wednesday, March 20th. They set an “underweight” rating and a $70.00 price objective for the company. StockNews.com cut Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Wednesday, May 29th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, Bank of Nova Scotia presently has an average rating of “Hold” and a consensus price target of $68.00.

Get Our Latest Stock Analysis on BNS

Bank of Nova Scotia Profile

(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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