AE Wealth Management LLC Sells 259 Shares of The Bank of Nova Scotia (NYSE:BNS)

AE Wealth Management LLC cut its stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 5.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,570 shares of the bank’s stock after selling 259 shares during the period. AE Wealth Management LLC’s holdings in Bank of Nova Scotia were worth $209,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BNS. 1832 Asset Management L.P. boosted its stake in shares of Bank of Nova Scotia by 16.1% in the 1st quarter. 1832 Asset Management L.P. now owns 17,015,877 shares of the bank’s stock valued at $881,082,000 after purchasing an additional 2,361,136 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Bank of Nova Scotia by 17.6% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 14,563,337 shares of the bank’s stock worth $753,658,000 after buying an additional 2,178,633 shares during the period. Nicola Wealth Management LTD. bought a new stake in Bank of Nova Scotia in the first quarter valued at $77,670,000. Vanguard Group Inc. raised its holdings in shares of Bank of Nova Scotia by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 46,971,032 shares of the bank’s stock valued at $2,287,020,000 after purchasing an additional 1,279,934 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Bank of Nova Scotia by 16.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,600,746 shares of the bank’s stock worth $175,320,000 after purchasing an additional 515,812 shares in the last quarter. Institutional investors and hedge funds own 49.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. UBS Group started coverage on Bank of Nova Scotia in a report on Tuesday, July 2nd. They issued a “neutral” rating on the stock. Cibc World Mkts upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $69.00.

Bank of Nova Scotia Stock Down 0.7 %

BNS stock opened at $54.44 on Friday. The firm has a market capitalization of $66.94 billion, a PE ratio of 12.26, a P/E/G ratio of 1.71 and a beta of 1.04. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. The Bank of Nova Scotia has a twelve month low of $39.79 and a twelve month high of $55.12. The stock’s 50 day moving average is $49.00 and its 200-day moving average is $48.11.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Tuesday, August 27th. The bank reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.01. The business had revenue of $8.36 billion for the quarter, compared to analysts’ expectations of $8.53 billion. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the business earned $1.30 EPS. Sell-side analysts expect that The Bank of Nova Scotia will post 4.8 EPS for the current fiscal year.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd will be paid a $0.768 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $3.07 annualized dividend and a yield of 5.64%. Bank of Nova Scotia’s dividend payout ratio (DPR) is 70.72%.

Bank of Nova Scotia 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.