Barrow Hanley Mewhinney & Strauss LLC Sells 51,867 Shares of Bank of Nova Scotia (The) $BNS

Barrow Hanley Mewhinney & Strauss LLC trimmed its position in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 1.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,514,124 shares of the bank’s stock after selling 51,867 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned 0.28% of Bank of Nova Scotia worth $227,188,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mondrian Investment Partners LTD bought a new stake in shares of Bank of Nova Scotia in the 3rd quarter valued at approximately $30,000. Smartleaf Asset Management LLC lifted its position in shares of Bank of Nova Scotia by 3,304.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 783 shares of the bank’s stock worth $51,000 after buying an additional 760 shares during the period. VSM Wealth Advisory LLC bought a new position in shares of Bank of Nova Scotia during the 2nd quarter worth approximately $55,000. Toth Financial Advisory Corp acquired a new stake in Bank of Nova Scotia in the 3rd quarter valued at $67,000. Finally, MAI Capital Management boosted its stake in Bank of Nova Scotia by 27.4% in the 2nd quarter. MAI Capital Management now owns 1,543 shares of the bank’s stock valued at $85,000 after buying an additional 332 shares in the last quarter. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Trading Up 0.9%

BNS opened at $71.54 on Wednesday. The firm’s fifty day moving average is $74.63 and its two-hundred day moving average is $69.47. The firm has a market cap of $88.19 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 0.86 and a beta of 1.10. Bank of Nova Scotia has a twelve month low of $44.09 and a twelve month high of $78.28. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.05.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Tuesday, February 24th. The bank reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.06. Bank of Nova Scotia had a return on equity of 12.49% and a net margin of 12.40%.The company had revenue of $7.40 billion for the quarter, compared to analyst estimates of $6.99 billion. During the same quarter last year, the firm posted $1.76 earnings per share. Bank of Nova Scotia’s revenue was up 2.9% compared to the same quarter last year. Equities research analysts anticipate that Bank of Nova Scotia will post 4.91 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Canaccord Genuity Group cut shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Monday. Weiss Ratings raised Bank of Nova Scotia from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, February 25th. TD Securities restated a “hold” rating on shares of Bank of Nova Scotia in a research report on Tuesday, March 3rd. Raymond James Financial began coverage on Bank of Nova Scotia in a report on Tuesday, November 25th. They set an “outperform” rating for the company. Finally, Royal Bank Of Canada lifted their price objective on Bank of Nova Scotia from $97.00 to $106.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 25th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $106.00.

Bank of Nova Scotia Profile

Bank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada’s largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.

Scotiabank’s core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.