Unigestion Holding SA Cuts Holdings in The Bank of Nova Scotia (NYSE:BNS)

Unigestion Holding SA trimmed its holdings in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 11.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 139,887 shares of the bank’s stock after selling 18,636 shares during the period. Unigestion Holding SA’s holdings in Bank of Nova Scotia were worth $6,634,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Murphy & Mullick Capital Management Corp purchased a new position in shares of Bank of Nova Scotia during the 4th quarter worth approximately $25,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Bank of Nova Scotia during the 4th quarter worth approximately $31,000. Allworth Financial LP raised its stake in shares of Bank of Nova Scotia by 121.1% during the 4th quarter. Allworth Financial LP now owns 639 shares of the bank’s stock worth $33,000 after buying an additional 350 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new stake in shares of Bank of Nova Scotia in the 4th quarter worth approximately $83,000. Finally, Dunhill Financial LLC acquired a new stake in shares of Bank of Nova Scotia in the 4th quarter worth approximately $95,000. 49.13% of the stock is owned by hedge funds and other institutional investors.

Bank of Nova Scotia Price Performance

Shares of NYSE:BNS opened at $53.48 on Tuesday. The business’s fifty day moving average price is $49.20 and its two-hundred day moving average price is $51.05. The stock has a market cap of $66.62 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. The Bank of Nova Scotia has a one year low of $43.68 and a one year high of $57.07.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its earnings results on Tuesday, May 27th. The bank reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.08). The company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $8.98 billion. Bank of Nova Scotia had a net margin of 10.20% and a return on equity of 11.56%. Bank of Nova Scotia’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.58 EPS. On average, analysts forecast that The 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. Stockholders of record on Wednesday, July 2nd will be issued a dividend of $0.7996 per share. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.74. The ex-dividend date is Wednesday, July 2nd. This represents a $3.20 annualized dividend and a dividend yield of 5.98%. Bank of Nova Scotia’s dividend payout ratio (DPR) is 89.44%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BNS. CIBC restated a “neutral” rating on shares of Bank of Nova Scotia in a report on Tuesday, February 18th. Royal Bank of Canada lowered their price target on Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Wall Street Zen upgraded Bank of Nova Scotia from a “sell” rating to a “hold” rating in a report on Friday. Bank of America cut Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a report on Monday, March 31st. Finally, Cibc World Mkts cut Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $81.00.

Bank of Nova Scotia Company Profile

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.