The Bank of Nova Scotia (NYSE:BNS) Shares Sold by Deutsche Bank AG

Deutsche Bank AG decreased its position in The Bank of Nova Scotia (NYSE:BNSGet Rating) (TSE:BNS) by 2.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,337,067 shares of the bank’s stock after selling 37,970 shares during the quarter. Deutsche Bank AG owned about 0.11% of Bank of Nova Scotia worth $79,169,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. JFS Wealth Advisors LLC lifted its holdings in shares of Bank of Nova Scotia by 178.0% in the first quarter. JFS Wealth Advisors LLC now owns 353 shares of the bank’s stock valued at $25,000 after buying an additional 226 shares during the period. Hazlett Burt & Watson Inc. acquired a new stake in shares of Bank of Nova Scotia in the first quarter valued at $28,000. Charter Oak Capital Management LLC acquired a new stake in shares of Bank of Nova Scotia in the second quarter valued at $26,000. Clear Street Markets LLC acquired a new stake in shares of Bank of Nova Scotia in the second quarter valued at $30,000. Finally, Hexagon Capital Partners LLC acquired a new stake in shares of Bank of Nova Scotia in the second quarter valued at $33,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $51.55 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.05 and a quick ratio of 1.05. The Bank of Nova Scotia has a fifty-two week low of $45.26 and a fifty-two week high of $74.86. The stock’s 50-day moving average is $49.65 and its two-hundred day moving average is $56.87. The firm has a market cap of $61.42 billion, a P/E ratio of 7.83, a PEG ratio of 1.58 and a beta of 0.97.

Bank of Nova Scotia (NYSE:BNSGet Rating) (TSE:BNS) last issued its earnings results on Tuesday, August 23rd. The bank reported $1.63 earnings per share for the quarter, hitting the consensus estimate of $1.63. Bank of Nova Scotia had a return on equity of 15.73% and a net margin of 24.43%. The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $6.25 billion. Analysts predict that The Bank of Nova Scotia will post 6.35 earnings per share for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 27th. Shareholders of record on Tuesday, October 4th were given a $0.7897 dividend. This represents a $3.16 annualized dividend and a yield of 6.13%. The ex-dividend date was Monday, October 3rd. Bank of Nova Scotia’s payout ratio is currently 45.29%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BNS. Scotiabank reduced their target price on Bank of Nova Scotia from C$90.00 to C$85.00 and set a “sector perform” rating for the company in a report on Friday. Royal Bank of Canada downgraded Bank of Nova Scotia from an “outperform” rating to a “sector perform” rating in a report on Wednesday, August 24th. Desjardins downgraded Bank of Nova Scotia from a “buy” rating to a “hold” rating in a report on Wednesday, September 7th. BMO Capital Markets downgraded Bank of Nova Scotia from an “outperform” rating to a “market perform” rating and set a $95.00 target price for the company. in a report on Tuesday, August 23rd. Finally, TD Securities reduced their target price on Bank of Nova Scotia from C$84.00 to C$83.00 in a report on Wednesday, August 24th. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of Nova Scotia has an average rating of “Hold” and a consensus price target of $90.84.

About Bank of Nova Scotia

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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 in four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.

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

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