The Bank of Nova Scotia (NYSE:BNS) Short Interest Update

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) was the target of a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 30,310,000 shares, a decrease of 27.5% from the March 31st total of 41,800,000 shares. Approximately 2.4% of the shares of the company are sold short. Based on an average trading volume of 1,990,000 shares, the short-interest ratio is presently 15.2 days.

Institutional Trading of Bank of Nova Scotia

Hedge funds and other institutional investors have recently modified their holdings of the company. Magnus Financial Group LLC boosted its holdings in Bank of Nova Scotia by 4.1% in the 4th quarter. Magnus Financial Group LLC now owns 5,100 shares of the bank’s stock worth $274,000 after buying an additional 200 shares during the period. Private Advisor Group LLC grew its position in shares of Bank of Nova Scotia by 3.5% during the fourth quarter. Private Advisor Group LLC now owns 6,248 shares of the bank’s stock worth $336,000 after purchasing an additional 211 shares in the last quarter. Moran Wealth Management LLC raised its stake in Bank of Nova Scotia by 6.5% during the 4th quarter. Moran Wealth Management LLC now owns 3,925 shares of the bank’s stock valued at $211,000 after purchasing an additional 240 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Bank of Nova Scotia by 4.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,399 shares of the bank’s stock worth $290,000 after purchasing an additional 248 shares in the last quarter. Finally, Lindbrook Capital LLC grew its holdings in Bank of Nova Scotia by 10.2% during the 4th quarter. Lindbrook Capital LLC now owns 2,860 shares of the bank’s stock valued at $154,000 after buying an additional 264 shares in the last quarter. 49.13% of the stock is owned by hedge funds and other institutional investors.

Bank of Nova Scotia Stock Up 1.1 %

BNS stock opened at $50.36 on Friday. The business’s 50-day moving average price is $47.92 and its 200-day moving average price is $51.30. The stock has a market cap of $62.73 billion, a P/E ratio of 11.66, a PEG ratio of 1.16 and a beta of 1.02. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. Bank of Nova Scotia has a twelve month low of $43.68 and a twelve month high of $57.07.

Bank of Nova Scotia Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Tuesday, April 1st were issued a dividend of $0.7415 per share. This represents a $2.97 annualized dividend and a yield of 5.89%. The ex-dividend date was Tuesday, April 1st. Bank of Nova Scotia’s dividend payout ratio is currently 83.05%.

Analysts Set New Price Targets

BNS has been the subject of a number of research analyst reports. Royal Bank of Canada reduced their price target on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Cibc World Mkts downgraded Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Bank of America cut Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research report on Monday, March 31st. Finally, CIBC restated a “neutral” rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $81.00.

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.