Galibier Capital Management Ltd. grew its stake in shares of Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 156,003 shares of the bank’s stock after acquiring an additional 3,202 shares during the period. Bank of Nova Scotia accounts for approximately 3.8% of Galibier Capital Management Ltd.’s portfolio, making the stock its 10th largest holding. Galibier Capital Management Ltd.’s holdings in Bank of Nova Scotia were worth $8,397,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of BNS. Capital Investment Advisors LLC purchased a new stake in shares of Bank of Nova Scotia in the second quarter worth $206,000. Cardinal Capital Management Inc. raised its position in shares of Bank of Nova Scotia by 0.8% in the second quarter. Cardinal Capital Management Inc. now owns 982,383 shares of the bank’s stock worth $52,771,000 after buying an additional 7,600 shares in the last quarter. Commonwealth Bank of Australia raised its position in shares of Bank of Nova Scotia by 29.5% in the first quarter. Commonwealth Bank of Australia now owns 257,934 shares of the bank’s stock worth $13,742,000 after buying an additional 58,784 shares in the last quarter. Callahan Advisors LLC raised its position in shares of Bank of Nova Scotia by 30.6% in the first quarter. Callahan Advisors LLC now owns 32,912 shares of the bank’s stock worth $1,754,000 after buying an additional 7,710 shares in the last quarter. Finally, AlphaCrest Capital Management LLC raised its position in shares of Bank of Nova Scotia by 647.5% in the first quarter. AlphaCrest Capital Management LLC now owns 51,577 shares of the bank’s stock worth $2,748,000 after buying an additional 44,677 shares in the last quarter. Hedge funds and other institutional investors own 46.26% of the company’s stock.
Shares of BNS stock traded up $0.41 on Friday, reaching $51.02. The company’s stock had a trading volume of 782,400 shares, compared to its average volume of 752,381. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.28. Bank of Nova Scotia has a 12-month low of $48.34 and a 12-month high of $60.60. The company has a market capitalization of $62.27 billion, a P/E ratio of 9.38, a PEG ratio of 1.91 and a beta of 1.16. The stock’s 50 day simple moving average is $53.16 and its 200-day simple moving average is $53.89.
Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Tuesday, May 28th. The bank reported $1.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.74 by ($0.04). Bank of Nova Scotia had a return on equity of 13.55% and a net margin of 19.20%. The business had revenue of $7.80 billion during the quarter, compared to analysts’ expectations of $7.60 billion. During the same quarter last year, the business posted $1.70 EPS. The company’s quarterly revenue was up 10.6% on a year-over-year basis. Research analysts expect that Bank of Nova Scotia will post 5.29 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 29th. Shareholders of record on Tuesday, July 2nd were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $2.60 dividend on an annualized basis and a yield of 5.10%. Bank of Nova Scotia’s payout ratio is 48.90%.
A number of brokerages recently issued reports on BNS. Zacks Investment Research downgraded Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research report on Friday. Barclays reiterated an “average” rating and issued a $78.00 price objective on shares of Bank of Nova Scotia in a research report on Thursday, May 30th. Finally, ValuEngine downgraded Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $76.50.
Bank of Nova Scotia Company Profile
The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.
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