Mediolanum International Funds Ltd Has $874,000 Stock Holdings in Bank of Nova Scotia (The) (NYSE:BNS)

Mediolanum International Funds Ltd lifted its holdings in Bank of Nova Scotia (The) (NYSE:BNSFree Report) (TSE:BNS) by 235.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,268 shares of the bank’s stock after buying an additional 12,823 shares during the period. Mediolanum International Funds Ltd’s holdings in Bank of Nova Scotia were worth $874,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Bank of Nova Scotia by 4.7% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 168,186 shares of the bank’s stock worth $7,977,000 after buying an additional 7,500 shares during the period. Avantax Advisory Services Inc. boosted its position in shares of Bank of Nova Scotia by 0.5% in the first quarter. Avantax Advisory Services Inc. now owns 58,073 shares of the bank’s stock worth $2,754,000 after buying an additional 298 shares during the period. Davis Rea LTD. acquired a new stake in shares of Bank of Nova Scotia in the first quarter worth $4,528,000. Massachusetts Financial Services Co. MA boosted its position in shares of Bank of Nova Scotia by 4.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 67,240 shares of the bank’s stock worth $3,189,000 after buying an additional 3,063 shares during the period. Finally, MQS Management LLC acquired a new stake in shares of Bank of Nova Scotia in the first quarter worth $856,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

Shares of NYSE:BNS opened at $56.30 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.62. Bank of Nova Scotia has a 1 year low of $43.67 and a 1 year high of $57.07. The business has a fifty day simple moving average of $54.34 and a 200 day simple moving average of $51.09. The firm has a market cap of $70.00 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 1.42 and a beta of 1.12.

Bank of Nova Scotia (NYSE:BNSGet Free Report) (TSE:BNS) last posted its 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 net margin of 8.83% and a return on equity of 11.27%. The company had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $8.98 billion. During the same quarter last year, the business earned $1.58 earnings per share. Bank of Nova Scotia’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, sell-side analysts predict that Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

Bank of Nova Scotia Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 2nd will be issued a dividend of $0.7996 per share. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.74. This represents a $3.20 annualized dividend and a yield of 5.68%. The ex-dividend date is Wednesday, July 2nd. Bank of Nova Scotia’s dividend payout ratio (DPR) is 94.72%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wall Street Zen lowered Bank of Nova Scotia from a “hold” rating to a “sell” rating in a report on Saturday, June 21st. Bank of America lowered Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $81.00.

Read Our Latest Research Report on BNS

Bank of Nova Scotia Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Bank of Nova Scotia (NYSE:BNS)

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