Texas Yale Capital Corp. Sells 6,144 Shares of Bank of Nova Scotia (The) (NYSE:BNS)

Texas Yale Capital Corp. lowered its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 42.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,413 shares of the bank’s stock after selling 6,144 shares during the period. Texas Yale Capital Corp.’s holdings in Bank of Nova Scotia were worth $399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC raised its position in shares of Bank of Nova Scotia by 4.3% during the first quarter. Janney Montgomery Scott LLC now owns 10,801 shares of the bank’s stock valued at $512,000 after buying an additional 442 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Bank of Nova Scotia by 5.5% during the first quarter. Bank of New York Mellon Corp now owns 1,155,791 shares of the bank’s stock valued at $54,819,000 after buying an additional 60,506 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Bank of Nova Scotia by 3.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,938 shares of the bank’s stock valued at $709,000 after buying an additional 466 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Bank of Nova Scotia by 54.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,629 shares of the bank’s stock valued at $1,216,000 after buying an additional 8,018 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in shares of Bank of Nova Scotia by 11.8% during the fourth quarter. HighTower Advisors LLC now owns 11,438 shares of the bank’s stock valued at $614,000 after buying an additional 1,207 shares during the last quarter. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Trading Down 0.1%

Shares of BNS opened at $56.63 on Monday. The company’s fifty day moving average is $54.25 and its 200 day moving average is $51.05. Bank of Nova Scotia has a fifty-two week low of $43.67 and a fifty-two week high of $57.07. The stock has a market capitalization of $70.41 billion, a PE ratio of 16.61, a P/E/G ratio of 1.42 and a beta of 1.12. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.03 and a current ratio of 1.03.

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

Bank of Nova Scotia Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Investors of record on Wednesday, July 2nd will be given a $0.7996 dividend. This represents a $3.20 annualized dividend and a yield of 5.65%. The ex-dividend date of this dividend is Wednesday, July 2nd. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.74. Bank of Nova Scotia’s payout ratio is currently 94.72%.

Wall Street Analysts Forecast Growth

BNS has been the topic of several recent analyst reports. Wall Street Zen cut shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research report on Saturday, June 21st. Bank of America cut shares of Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Bank of Nova Scotia presently has a consensus rating of “Hold” and a consensus target price of $81.00.

About Bank of Nova Scotia

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.