M&T Bank Corp Sells 522 Shares of Bank of Nova Scotia (The) (NYSE:BNS)

M&T Bank Corp decreased its holdings in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 4.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,365 shares of the bank’s stock after selling 522 shares during the quarter. M&T Bank Corp’s holdings in Bank of Nova Scotia were worth $539,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its stake in Bank of Nova Scotia by 4.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,399 shares of the bank’s stock valued at $290,000 after purchasing an additional 248 shares in the last quarter. Sara Bay Financial boosted its position in shares of Bank of Nova Scotia by 6.2% during the first quarter. Sara Bay Financial now owns 5,021 shares of the bank’s stock worth $240,000 after buying an additional 294 shares during the period. Independence Bank of Kentucky boosted its position in shares of Bank of Nova Scotia by 38.4% during the first quarter. Independence Bank of Kentucky now owns 1,175 shares of the bank’s stock worth $56,000 after buying an additional 326 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Bank of Nova Scotia by 0.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 64,177 shares of the bank’s stock worth $3,448,000 after acquiring an additional 328 shares in the last quarter. Finally, Vident Advisory LLC raised its holdings in Bank of Nova Scotia by 8.3% during the fourth quarter. Vident Advisory LLC now owns 4,648 shares of the bank’s stock worth $250,000 after acquiring an additional 358 shares in the last quarter. Institutional investors own 49.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BNS. Wall Street Zen lowered Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Saturday, June 21st. Bank of America lowered Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research note on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $81.00.

Bank of Nova Scotia Stock Performance

Shares of Bank of Nova Scotia stock opened at $54.51 on Wednesday. Bank of Nova Scotia has a one year low of $43.68 and a one year high of $57.07. The firm has a market capitalization of $67.77 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 1.37 and a beta of 1.12. The business has a 50-day simple moving average of $53.41 and a 200 day simple moving average of $50.91. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.03.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Tuesday, May 27th. The bank reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.08). The company had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $8.98 billion. Bank of Nova Scotia had a return on equity of 11.27% and a net margin of 8.83%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.58 earnings per share. On average, research analysts anticipate that Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

Bank of Nova Scotia Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 2nd will be paid a $0.7996 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date of this dividend is Wednesday, July 2nd. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $0.74. Bank of Nova Scotia’s dividend payout ratio is 94.72%.

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.