8,570 Bank of Nova Scotia (The) $BNS Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. reduced its stake in shares of Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 6.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 123,786 shares of the bank’s stock after selling 8,570 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Bank of Nova Scotia were worth $11,245,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board purchased a new stake in Bank of Nova Scotia in the second quarter valued at $1,016,738,000. Legal & General Group Plc purchased a new position in shares of Bank of Nova Scotia during the second quarter worth about $709,837,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Bank of Nova Scotia during the second quarter worth about $567,278,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Bank of Nova Scotia in the 2nd quarter valued at about $416,397,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Bank of Nova Scotia in the 2nd quarter valued at about $354,379,000. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $93.36 on Friday. The stock’s 50-day moving average price is $91.66 and its 200 day moving average price is $85.53. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.98. The stock has a market capitalization of $113.60 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.06 and a beta of 1.14. Bank of Nova Scotia has a 52-week low of $64.12 and a 52-week high of $95.74.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings data on Tuesday, August 25th. The bank reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.11. Bank of Nova Scotia had a return on equity of 16.12% and a net margin of 13.91%. The company had revenue of $7.52 billion during the quarter, compared to analysts’ expectations of $7.11 billion. During the same period last year, the firm earned $1.84 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities research analysts forecast that Bank of Nova Scotia will post 6.19 EPS for the current year.

Bank of Nova Scotia Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Tuesday, October 6th will be paid a dividend of C$1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Tuesday, October 6th. Bank of Nova Scotia’s dividend payout ratio is 57.87%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. TD Securities raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, August 25th. National Bank Financial raised Bank of Nova Scotia from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, August 26th. Weiss Ratings upgraded Bank of Nova Scotia from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, October 8th. TD raised Bank of Nova Scotia to a “buy” rating in a report on Wednesday, August 26th. Finally, Keefe, Bruyette & Woods assumed coverage on Bank of Nova Scotia in a report on Friday, August 21st. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $105.50.

Bank of Nova Scotia Profile

Bank of Nova Scotia, operating under the Scotiabank name, is a Canadian financial services company that provides banking and related services to individuals, businesses, institutions and governments. Its principal businesses include Canadian Banking, International Banking, Global Wealth Management and Global Banking and Markets.

The company offers personal and commercial deposit accounts, mortgages, consumer and business loans, credit cards, payments and other financial products. Through its wealth management operations, Scotiabank provides investment, advisory, brokerage and private banking services.