The Bank of Nova Scotia (NYSE:BNS) Short Interest Up 18.3% in March

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 30,220,000 shares, an increase of 18.3% from the March 15th total of 25,550,000 shares. Based on an average trading volume of 2,070,000 shares, the short-interest ratio is presently 14.6 days. Approximately 2.5% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

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

Bank of Nova Scotia Stock Down 1.5 %

Shares of NYSE BNS opened at $47.48 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $58.03 billion, a PE ratio of 10.50, a price-to-earnings-growth ratio of 1.60 and a beta of 1.04. The stock’s fifty day simple moving average is $48.96 and its two-hundred day simple moving average is $46.30. Bank of Nova Scotia has a 12-month low of $39.79 and a 12-month high of $51.98.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Tuesday, February 27th. The bank reported $1.25 EPS for the quarter, beating the consensus estimate of $1.19 by $0.06. Bank of Nova Scotia had a return on equity of 11.51% and a net margin of 10.71%. The firm had revenue of $14.13 billion during the quarter, compared to analyst estimates of $6.01 billion. During the same quarter in the prior year, the business posted $1.37 EPS. As a group, analysts expect that Bank of Nova Scotia will post 4.9 EPS for the current fiscal year.

Bank of Nova Scotia Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Tuesday, April 2nd will be paid a $0.7843 dividend. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.78. The ex-dividend date is Monday, April 1st. This represents a $3.14 dividend on an annualized basis and a yield of 6.61%. Bank of Nova Scotia’s dividend payout ratio (DPR) is 34.96%.

Hedge Funds Weigh In On Bank of Nova Scotia

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC raised its stake in Bank of Nova Scotia by 70.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 585 shares of the bank’s stock worth $30,000 after acquiring an additional 242 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Bank of Nova Scotia by 135.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 919 shares of the bank’s stock valued at $42,000 after buying an additional 529 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Bank of Nova Scotia during the 3rd quarter valued at about $42,000. Fifth Third Bancorp grew its position in shares of Bank of Nova Scotia by 71.6% during the 4th quarter. Fifth Third Bancorp now owns 858 shares of the bank’s stock valued at $42,000 after acquiring an additional 358 shares during the period. Finally, NBC Securities Inc. acquired a new stake in shares of Bank of Nova Scotia during the 3rd quarter valued at about $67,000. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Company Profile

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.