Bank of Nova Scotia (NYSE:BNS) Issues Quarterly Earnings Results

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) announced its quarterly earnings results on Tuesday. The bank reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.08, Zacks reports. Bank of Nova Scotia had a net margin of 10.60% and a return on equity of 12.10%.

Bank of Nova Scotia Trading Down 1.7%

NYSE BNS opened at $75.98 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.70. Bank of Nova Scotia has a twelve month low of $44.09 and a twelve month high of $78.28. The firm has a market capitalization of $93.67 billion, a PE ratio of 18.90, a P/E/G ratio of 1.05 and a beta of 1.11. The stock’s 50 day moving average is $74.45 and its 200 day moving average is $68.12.

Bank of Nova Scotia Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Tuesday, January 6th were paid 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 (DPR) is presently 79.85%.

Institutional Trading of Bank of Nova Scotia

Hedge funds have recently modified their holdings of the business. Swiss RE Ltd. purchased a new stake in shares of Bank of Nova Scotia in the 4th quarter worth about $30,000. Brown Brothers Harriman & Co. purchased a new stake in Bank of Nova Scotia in the fourth quarter worth about $34,000. Quarry LP purchased a new stake in Bank of Nova Scotia in the third quarter worth about $35,000. Virtus Advisers LLC bought a new position in shares of Bank of Nova Scotia during the third quarter valued at approximately $39,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Bank of Nova Scotia during the third quarter valued at approximately $45,000. Institutional investors own 49.13% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on BNS. Raymond James Financial initiated coverage on Bank of Nova Scotia in a research note on Tuesday, November 25th. They issued an “outperform” rating on the stock. Weiss Ratings reiterated 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 target price on Bank of Nova Scotia from $86.00 to $97.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 3rd. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $97.00.

Bank of Nova Scotia Company Profile

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.