Shell Asset Management Co. Sells 34,478 Shares of Bank of Nova Scotia (The) $BNS

Shell Asset Management Co. lowered its holdings in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 56.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 27,031 shares of the bank’s stock after selling 34,478 shares during the quarter. Shell Asset Management Co.’s holdings in Bank of Nova Scotia were worth $1,748,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of BNS. Cypress Capital Management LLC WY bought a new stake in Bank of Nova Scotia during the 2nd quarter valued at $33,000. Smartleaf Asset Management LLC grew its position in shares of Bank of Nova Scotia by 3,304.3% in the third quarter. Smartleaf Asset Management LLC now owns 783 shares of the bank’s stock valued at $51,000 after purchasing an additional 760 shares in the last quarter. VSM Wealth Advisory LLC bought a new stake in shares of Bank of Nova Scotia during the 2nd quarter valued at $55,000. Toth Financial Advisory Corp purchased a new stake in Bank of Nova Scotia during the 3rd quarter worth about $67,000. Finally, MAI Capital Management boosted its stake in Bank of Nova Scotia by 27.4% in the 2nd quarter. MAI Capital Management now owns 1,543 shares of the bank’s stock worth $85,000 after purchasing an additional 332 shares during the period. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Nova Scotia Trading Down 0.2%

Shares of Bank of Nova Scotia stock opened at $75.72 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.04 and a quick ratio of 1.04. Bank of Nova Scotia has a 1 year low of $44.09 and a 1 year high of $78.28. The firm has a market cap of $93.35 billion, a PE ratio of 18.84, a PEG ratio of 0.99 and a beta of 1.11. The company has a 50 day simple moving average of $74.01 and a two-hundred day simple moving average of $67.25.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Tuesday, December 2nd. The bank reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.06. Bank of Nova Scotia had a net margin of 10.60% and a return on equity of 12.10%. The firm had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $6.85 billion. During the same quarter last year, the company posted $1.57 EPS. The business’s quarterly revenue was up 15.0% on a year-over-year basis. Analysts expect that Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Tuesday, January 6th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Tuesday, January 6th. Bank of Nova Scotia’s dividend payout ratio is presently 79.85%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Raymond James Financial initiated coverage on Bank of Nova Scotia in a research report on Tuesday, November 25th. They set an “outperform” rating on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bank of Nova Scotia in a report on Monday, December 29th. Finally, Royal Bank Of Canada boosted their price target on shares of Bank of Nova Scotia from $86.00 to $97.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $97.00.

About Bank of Nova Scotia

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada’s largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.

Scotiabank’s core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.