The Bank of Nova Scotia (NYSE:BNS) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its stake in shares of The Bank of Nova Scotia (NYSE:BNSFree Report) (TSE:BNS) by 47.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 43,616 shares of the bank’s stock after selling 39,078 shares during the period. Assenagon Asset Management S.A.’s holdings in Bank of Nova Scotia were worth $2,133,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Bank of Nova Scotia by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 45,691,098 shares of the bank’s stock worth $2,083,057,000 after purchasing an additional 725,489 shares during the period. Toronto Dominion Bank grew its stake in Bank of Nova Scotia by 3.4% in the 3rd quarter. Toronto Dominion Bank now owns 22,567,680 shares of the bank’s stock valued at $1,028,861,000 after acquiring an additional 736,807 shares during the last quarter. Mackenzie Financial Corp grew its stake in Bank of Nova Scotia by 4.1% in the 4th quarter. Mackenzie Financial Corp now owns 16,557,752 shares of the bank’s stock valued at $809,940,000 after acquiring an additional 659,492 shares during the last quarter. Scotia Capital Inc. grew its stake in Bank of Nova Scotia by 1.4% in the 3rd quarter. Scotia Capital Inc. now owns 13,387,765 shares of the bank’s stock valued at $600,211,000 after acquiring an additional 183,008 shares during the last quarter. Finally, Norges Bank acquired a new stake in Bank of Nova Scotia in the 4th quarter valued at about $588,957,000. 49.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Bank of Nova Scotia in a research note on Thursday, February 22nd. They issued a “hold” rating on the stock. Barclays assumed coverage on shares of Bank of Nova Scotia in a research note on Wednesday, March 20th. They issued an “underweight” rating and a $70.00 price objective on the stock. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat, Bank of Nova Scotia currently has an average rating of “Hold” and an average target price of $68.00.

View Our Latest Research Report on BNS

Bank of Nova Scotia Stock Performance

Shares of NYSE BNS opened at $50.29 on Thursday. The company has a market cap of $61.46 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 1.67 and a beta of 1.04. The Bank of Nova Scotia has a 12 month low of $39.79 and a 12 month high of $51.98. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.03 and a quick ratio of 1.03. The company has a 50-day simple moving average of $48.44 and a 200-day simple moving average of $46.14.

Bank of Nova Scotia (NYSE:BNSGet Free Report) (TSE:BNS) last issued its quarterly earnings results on Tuesday, February 27th. The bank reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.06. The business had revenue of $14.13 billion during the quarter, compared to the consensus estimate of $6.01 billion. Bank of Nova Scotia had a net margin of 10.71% and a return on equity of 11.51%. During the same period in the previous year, the firm posted $1.37 earnings per share. On average, equities analysts anticipate that The Bank of Nova Scotia will post 4.9 earnings per share for the current year.

Bank of Nova Scotia Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Tuesday, April 2nd will be issued a dividend of $0.7843 per share. The ex-dividend date is Monday, April 1st. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $0.78. This represents a $3.14 dividend on an annualized basis and a dividend yield of 6.24%. Bank of Nova Scotia’s payout ratio is 51.77%.

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.

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

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