M&T Bank Corp Sells 522 Shares of Bank of Nova Scotia (The) (NYSE:BNS)

M&T Bank Corp decreased its holdings in shares of Bank of Nova Scotia (The) (NYSE:BNSFree Report) (TSE:BNS) by 4.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,365 shares of the bank’s stock after selling 522 shares during the period. M&T Bank Corp’s holdings in Bank of Nova Scotia were worth $539,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Murphy & Mullick Capital Management Corp purchased a new position in shares of Bank of Nova Scotia in the fourth quarter worth about $25,000. Compagnie Lombard Odier SCmA purchased a new position in Bank of Nova Scotia during the 1st quarter valued at about $52,000. Independence Bank of Kentucky increased its holdings in Bank of Nova Scotia by 38.4% during the 1st quarter. Independence Bank of Kentucky now owns 1,175 shares of the bank’s stock valued at $56,000 after purchasing an additional 326 shares during the period. North Capital Inc. purchased a new position in Bank of Nova Scotia during the 1st quarter valued at about $81,000. Finally, Atlas Capital Advisors Inc. purchased a new position in Bank of Nova Scotia during the 4th quarter valued at about $83,000. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Stock Down 0.1%

Shares of NYSE BNS opened at $54.51 on Wednesday. Bank of Nova Scotia has a 12-month low of $43.68 and a 12-month high of $57.07. The stock has a market cap of $67.77 billion, a PE ratio of 15.99, a P/E/G ratio of 1.37 and a beta of 1.12. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average of $53.41 and a 200 day moving average of $50.91.

Bank of Nova Scotia (NYSE:BNSGet Free Report) (TSE:BNS) last announced its quarterly earnings data on Tuesday, May 27th. The bank reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.08). Bank of Nova Scotia had a net margin of 8.83% and a return on equity of 11.27%. The firm had revenue of $6.59 billion during the quarter, compared to analyst estimates of $8.98 billion. During the same quarter in the previous year, the business posted $1.58 earnings per share. Bank of Nova Scotia’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, sell-side analysts predict that Bank of Nova Scotia will post 4.91 EPS for the current fiscal year.

Bank of Nova Scotia Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 2nd will be given a dividend of $0.7996 per share. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $0.74. This represents a $3.20 annualized dividend and a yield of 5.87%. The ex-dividend date is Wednesday, July 2nd. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 94.72%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Bank of America downgraded Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a report on Monday, March 31st. Wall Street Zen cut Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research report on Saturday, June 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Bank of Nova Scotia presently has an average rating of “Hold” and an average price target of $81.00.

Read Our Latest Analysis on Bank of Nova Scotia

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.

See Also

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

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